Hello tutor please provide this question solution general accounting Suppose Hunt Company has receivables of $65,000,furniture totaling $205,000, and cash of $52,000. Thebusiness has a $109,000 note payable and owes $81,000on the account. How much is Hunt's owner equity?a. $28,000b. $132,000c. $190,000d. $322,000

Step 1: Define EquityFollowing the accounting equation, equity is computed as the difference of…

Answered: Suppose Hunt Company has receivables of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Suppose Hunt Company has receivables of $65,000, furniture totaling $205,000, and cash of $52,000. The business has a $109,000 note payable and owes $81,000 on the account. How much is Hunt's owner equity? a. $28,000 b. $132,000 c. $190,000 d. $322,000