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The initial investment of the owner in his business is P75,000. At the end of the year, the total assets of the business amounted to

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The initial investment of the owner in his business is P75,000. At the end of the year, the total assets of the business amounted to P100,000, consists of P50,000 cash and P50,000 equipment. The equipment has unpaid balance of P20,000, the only liability of the business. How much is the owners' equity at the end of the year

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