Use the accounting equation to answer the following questions.
1. Penny Sales Co. has total assets of $140000 and total liabilities of $54000. What is owner's equity?
2. The Virtual Sun Center has total assets of $252000 and owner's equity of $100000. What are total liabilities?
3. Columbia River Restaurant has total liabilities of $50000 and owner's equity of $80000. What are total assets?

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The Answer of Use the accounting equation to answer the following questions.
1. Penny Sales Co. has total assets of $140000 and total liabilities of $54000. What is owner's equity?
2. The Virtual Sun Center has total assets of $252000 and owner's equity of $100000. What are total liabilities?
3. Columbia River Restaurant has total liabilities of $50000 and owner's equity of $80000. What are total assets?

Use the Accounting Equation to Answer the Following Questions