If the assets for your small business are $22,349 and your liabilities are $6,825, what is the owner's equity?
A) $14,128
B) $15,524
C) $29,174
D) $16,394

Name: If the assets for your small business are $22,349 and your liabilities are $6,825, what is the owner's equity? A) $14,128 B) $15,524 C) $29,174 D) $16,394
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Quizplus · Accepted Answer

Owner's equity is calculated by subtracting liabilities from assets, so $22,349 - $6,825 = $15,524. Therefore, the best choice is B.

If the Assets for Your Small Business Are $22,349 and Your