How much is hunts owner equity? 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…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 2PB: To demonstrate the difference between cash account activity and accrual basis profits (net income),...

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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