1 The owner’s equity of Sean Connery is \($150,000\) and is equal to one-quarter the amount of total assets. What is the amount of liabilities?

2 The assets of Pierce Brosnan amount to \($60,000\) on 30/6/20x7 but increased by \($35,000\) by 30/6/20x8. During the same year, liabilities decreased by \($5,000\) and drawings amounted to \($10,000.\) If the owner's equity at 30/6/20x7 was \($20,000,\) then what was the profit for the year ended 30/6/20x8 and the owner's equity as at 30/6/20x8?

3 On 30/6/20x8, the assets of Daniel Craig were \($75,000.\) One year later the assets had increased to \($100,000\) and the owner's equity was \($55,000.\) Liabilities were \($20,000\) greater on 30/6/20x9 than they had been at 30/6/20x8. What was the owner’s equity at 30/6/20x8?