The assets and liabilities of Smith Company are as follows: Cash $28,650, Supplies, $840; Equipment, $9,000; Accounts Payable, $7,800. What is the amount of equity for Smith? $29,850. $12,690. $30,690. $11,010. $29,010.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The assets and liabilities of Smith Company are as follows: Cash $28,650; Supplies, $840; Equipment, $9,000; Accounts Payable, $7,800. What is
the amount of equity for Smith?
$29,850.
$12,690.
$30,690.
$1,010.
$29,010.
Transcribed Image Text:The assets and liabilities of Smith Company are as follows: Cash $28,650; Supplies, $840; Equipment, $9,000; Accounts Payable, $7,800. What is the amount of equity for Smith? $29,850. $12,690. $30,690. $1,010. $29,010.
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