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Magna Innovations has assets of $750,000 and liabilities of $280,000. What is the amount of Magna's equity?

Magna Innovations has assets of $750,000 and liabilities of $280,000. What is the amount of Magna's equity?

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 15MCQ: Hummel Inc. has $30,000 in current assets and $15,000 in current liabilities. What is Hummels...
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What is the amount of magna's equity?

Magna Innovations has assets of $750,000 and liabilities of $280,000. What is the amount of Magna's equity?
Transcribed Image Text:Magna Innovations has assets of $750,000 and liabilities of $280,000. What is the amount of Magna's equity?
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