The assets of Star Company are $120,000 and the total liabilities are $10,000. The equity is ________.
A) $120,000
B) $130,000
C) $10,000
D) $110,000

Name: The assets of Star Company are $120,000 and the total liabilities are $10,000. The equity is ________. A) $120,000 B) $130,000 C) $10,000 D) $110,000
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Quizplus · Accepted Answer

Equity is the difference between assets and liabilities, so Equity = Assets - Liabilities = $120,000 - $10,000 = $110,000. Therefore, the answer is D.

The Assets of Star Company Are $120,000 and the Total