Total assets of Douglas Fuhr Furniture Co.are $36,000 and the total liabilities are $12,000.What is the amount of the owner's equity?
A) $36,000
B) $24,000
C) $48,000
D) $6,000

Name: Total assets of Douglas Fuhr Furniture Co.are $36,000 and the total liabilities are $12,000.What is the amount of the owner's equity? A) $36,000 B) $24,000 C) $48,000 D) $6,000
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Question

Quizplus · Accepted Answer

Owner's equity = Total assets - Total liabilities
Owner's equity = $36,000 - $12,000
Owner's equity = $24,000

Total Assets of Douglas Fuhr Furniture Co