Use the following information for Meeker Corp.to determine the amount of equity to report.
$$\begin{array} { l l }
\text { Cash } & \$ 70,000 \
\text { Buildings } & 125,000 \
\text { Land } & 205,000 \
\text { Liabilities } & 130,000
\end{array}$$

Question

Use the following information for Meeker Corp.to determine the amount of equity to report.
$$\begin{array} { l l } 
\text { Cash } & \$ 70,000 \
\text { Buildings } & 125,000 \
\text { Land } & 205,000 \
\text { Liabilities } & 130,000
\end{array}$$

Quizplus · Accepted Answer

To find the equity, add up all the assets (Cash + Buildings + Land = $70,000 + $125,000 + $205,000 = $400,000) and then subtract the liabilities ($400,000 - $130,000 = $270,000).

Use the Following Information for Meeker Corp A) $390,000