Question
Suppose Hunt Company has receivables of $65,000, furniture totaling $205,000, and cash of $52,000. The business has a $109,000 note payable and owes $81,000 on
Suppose Hunt Company has receivables of $65,000, furniture totaling $205,000, and cash of $52,000. The business has a $109,000 note payable and owes $81,000 on account. How much is Hunt’s owner’s equity?
a. $28,000
b. $132,000
c. $190,000
d. $322,000
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Financial and Managerial Accounting the basis for business decisions
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
16th edition
0077664078, 978-0077664077, 78111048, 978-0078111044
