Use the following information as of December 31 to determine equity.

A) $57,000.
B) $141,000.
C) $297,000.
D) $438,000.
E) $579,000.

Question

Use the following information as of December 31 to determine equity.  A) $57,000.B) $141,000.C) $297,000.D) $438,000.E) $579,000.

Blessing Worrie · Accepted Answer

Final Answer : C, Explanation :  Equity = Total assets - Total liabilitiesFrom the balance sheet provided, we can see that:Total assets = $846,000Total liabilities = $549,000Equity = $846,000 - $549,000 = $297,000

Use the following information as of December 31 to determine equity.

A) $57,000.
B) $141,000.
C) $297,000.
D) $438,000.
E) $579,000.

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