1. using the accounting equation, what is the owners equity if assets are 40,000 and liabilities are
25,0002
a. 25,000
b. 15,000
2. using the accounting equation, what are the liabilities if assets are 40,000 and owners equity is
20,000?
a. 1 20,000
b. -20,000
3. using the accounting equation, what are the assets if liabilities are 5,000 and others equity is 6,0002
a. 11,000
b. 1,000
4. using the accounting equation, what is the owners equity if assets are 41,000 and liabilities are 6,0002
a. 47,000
b. 35,000
5. using the accounting equation, what are the liabilities if assets are 12,000 and owners equity is 7,0002
a. 4,000
b. 5,000
6. using the accounting equation, what are the assets if owners equity is 14,000 and liabilities are
20,000?
a. 34,000
b. -34,000
provide a definition of asset"
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