NO WRONG ANSWER Question:At year-end, Optima Supplies hasassets equal to $145,000 and liabilitiesequal to $60,000. What is the totalequity for Optima Supplies at year-end?

Equity represents the residual interest in the assets of a business after deducting its liabilities.…

Answered: Question: At year-end, Optima Supplies…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 11EB: Gear Up Co. pays 65% of its purchases in the month of purchase, 30% in the month after the purchase,...

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Question: At year-end, Optima Supplies has assets equal to $145,000 and liabilities equal to $60,000. What is the total equity for Optima Supplies at year- end?