Carson Company has receivables of $85,000, equipment valued at $275,000, and cash of $45,000. The company has a $145,000 note payable and owes $95,000 to suppliers. What is Carson's owner equity? a. $45,000 b. $165,000 c. $240,000 d. $405,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
100%

Do fast answer of this accounting questions

Carson Company has receivables of $85,000, equipment valued at
$275,000, and cash of $45,000. The company has a $145,000 note
payable and owes $95,000 to suppliers. What is Carson's owner
equity?
a. $45,000
b. $165,000
c. $240,000
d. $405,000
Transcribed Image Text:Carson Company has receivables of $85,000, equipment valued at $275,000, and cash of $45,000. The company has a $145,000 note payable and owes $95,000 to suppliers. What is Carson's owner equity? a. $45,000 b. $165,000 c. $240,000 d. $405,000
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education