Question
On December 31, 2019, Rex's Used Tires and More Store have assets that include: Cash, $6,050; Accounts receivables, $22,000; and Supplies, $31,050. The liabilities on
On December 31, 2019, Rex's Used Tires and More Store have assets that include: Cash, $6,050; Accounts receivables, $22,000; and Supplies, $31,050. The liabilities on December 31, 2019, total $11,000. What is the owners' equity on December 31, 2019?
a.) $3,000
b.) $48,100
c.) $59,100
d.) $70,100
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Financial Accounting And Reporting A Global Perspective
Authors: Herve Stolowy, Yuan Ding, Luc Paugam
6th Edition
147376730X, 9781473767300
