Solved

The Balance Sheet for Jim's Hardware Has the Following Items

Question 2

Multiple Choice

The balance sheet for Jim's Hardware has the following items listed.Current Liabilities,$25,345;Long Term Debt,$100,000;Total Liabilities,$125,345;Total Assets,$325,490.What is the Owner's Equity for this company?


A) $225,490
B) $200,145
C) $25,345
D) Cannot calculate with the information provided.

Correct Answer:

verifed

Verified

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents