Westwood Enterprises has the following assets and liabilities: • Accounts Receivable = $4,200 • • Accounts Payable = $7,300 Equipment = $11,500 • • • Prepaid Rent = $2,600 = Supplies $725 Bank Loan = $4,000 Tools = $800 What is Westwood Enterprises' total equity?

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 15MCQ: Hummel Inc. has $30,000 in current assets and $15,000 in current liabilities. What is Hummels...
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What is the total equity of this financial accounting question?

Westwood Enterprises has the following assets and liabilities:
•
Accounts Receivable = $4,200
•
•
Accounts Payable = $7,300
Equipment = $11,500
•
•
•
Prepaid Rent = $2,600
=
Supplies $725
Bank Loan = $4,000
Tools = $800
What is Westwood Enterprises' total equity?
Transcribed Image Text:Westwood Enterprises has the following assets and liabilities: • Accounts Receivable = $4,200 • • Accounts Payable = $7,300 Equipment = $11,500 • • • Prepaid Rent = $2,600 = Supplies $725 Bank Loan = $4,000 Tools = $800 What is Westwood Enterprises' total equity?
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