I want to correct answer general accounting The balance sheet of Horizon Enterprises at December 31 showed assets of$75,000 and liabilities of $45,000. What was the shareholders' equity atDecember 31?a. $30,000b. $45,000c. $75,000d. $120,000

Step 1: Shareholders' Equity is the amount invested by the owners in the business. In the business…

Answered: The balance sheet of Horizon…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter1: The Role Of Accounting In Business

Section: Chapter Questions

Problem 4SEQ: If total assets are $20,000 and total liabilities are $12,000, the amount of stockholders’ equity...

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The balance sheet of Horizon Enterprises at December 31 showed assets of $75,000 and liabilities of $45,000. What was the shareholders' equity at December 31? a. $30,000 b. $45,000 c. $75,000 d. $120,000