Long term assets being `3,00,000, current Assets `80,000, outside liabilities `1,20,000. Find owners equity-

Name: Long term assets being `3,00,000, current Assets `80,000, outside liabilities `1,20,000. Find owners equity-
Brand: Quizplus
Rating: 4.8 (57 reviews)

Question

Quizplus · Accepted Answer

Owners equity can be calculated using the formula: Total Assets - Outside Liabilities. Here, Total Assets = Long term assets + Current Assets = 3,00,000 + 80,000 = 3,80,000. Therefore, Owners Equity = 3,80,000 - 1,20,000 = 2,60,000.

Long Term Assets Being `3,00,000, Current Assets `80,000, Outside Liabilities