following items is not an asset?* 5. A business has the following items listed: - Land $1,000,000 1,000,000 - Machinery $20,000 - Cash $10,000 - Loan $500,000 - Owner's equity ? What is the balance of the owner's equity?* a) $500,000 b) $1,000,000 c) $530,000 d) $1,030,000 1.ooo 6. A business has the following items listed: Owners equity $600,000 - Total liabilities $1,400,000 - Assets ? 1,00 What is the accounting value of the assets in this business ?* a) $600,000 b) $800,000 c) $1,400,000 d) $2,000,000 7. A business has the following items listed: - Land $1,500,000 - Machinery $80,000 - Cash $20,000 - Owners equity $900,000 - Loan $500,000 - Accounts Payable ? What is the balance of accounts payable?" a) $200,000 b) $700,000 c) $800,000 d) $1,100,000