Brenda's pro forma balance sheet shows assets of $18,000 and liabilities of $12,000. What is her owner's equity?
A) $30,000
B) $3,000
C) $6,000
D) -$6,000
E) need more information to calculate

Question

Quizplus · Accepted Answer

Owner's equity is calculated as Assets minus Liabilities. Therefore, $18,000 (assets) - $12,000 (liabilities) = $6,000 (owner's equity).

Brenda's Pro Forma Balance Sheet Shows Assets of $18,000 and Liabilities