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If total liabilities are 1,000 and total assets are 8000 owner's e q u i t y must be
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If total liabilities are 1,000 and total assets are 8000 owner's e q u i t y must be

User Arnab Rahman
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1 Answer

7 votes
Total equity is equal to assets - liabilities.

Therefore,

8000 - 1000 = 7000

The owner's equity is $7,000.
User MatteKarla
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