solution and answer. ASAP please thank you Initial capital of the owner to the business is $80 000.00. At the end of the year, the total assets of the business amounted to $90 000.00, $40 000.00 of which is cash and $50 000.00 is total cost of equipment. By then, the only obligation of the business is the outstanding balance for the equipment amounting to $25 000.00. How much is the owner’s equity at year-end?

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Initial capital of the owner to the business is $80 000.00. At the end of the year, the total assets of the business amounted to $90 000.00, $40 000.00 of which is cash and $50 000.00 is total cost of equipment. By then, the only obligation of the business is the outstanding balance for the equipment amounting to $25 000.00. How much is the owner’s equity at year-end?

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