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The balance sheet from Jim's Hardware has the following items listed: Long-term Debt: $100,000 Total Liabilities: Current Liabilities: $25,345 $125,345 Total Assets: $325,490 What is the owner's equity for the company? A) $25,345 B) $200,145 OC) $225,490 D) Cannot calculate with the information provided.

The balance sheet from Jim's Hardware has the following items listed: Long-term Debt: $100,000 Total Liabilities: Current Liabilities: $25,345 $125,345 Total Assets: $325,490 What is the owner's equity for the company? A) $25,345 B) $200,145 OC) $225,490 D) Cannot calculate with the information provided.

FINANCIAL ACCOUNTING
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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The balance sheet from Jim's Hardware has the following items listed: Long-term Debt: $100,000 Total Liabilities: Current Liabilities: $25,345 $125,345 Total Assets: $325,490 What is the owner's equity for the company? A) $25,345 B) $200,145 OC) $225,490 D) Cannot calculate with the information provided.
Transcribed Image Text:The balance sheet from Jim's Hardware has the following items listed: Long-term Debt: $100,000 Total Liabilities: Current Liabilities: $25,345 $125,345 Total Assets: $325,490 What is the owner's equity for the company? A) $25,345 B) $200,145 OC) $225,490 D) Cannot calculate with the information provided.
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