Cerrato Company has assets of $350,000, liabilities of $130,000, and retained earnings of $180,000.How much is
Total owners' equity?

Name: Cerrato Company has assets of $350,000, liabilities of $130,000, and retained earnings of $180,000.How much is Total owners' equity?
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Question

Quizplus · Accepted Answer

Total owners' equity can be calculated as follows:
Total Owners' Equity = Assets - Liabilities - Retained Earnings
= $350,000 - $130,000 - $180,000
= $40,000
Therefore, the correct answer is option C, which is $220,000.

Cerrato Company Has Assets of $350,000, Liabilities of $130,000, and Retained