Final answer:
Given an assets to liabilities ratio of 3:2 and total assets worth $6,000,000, the owner's equity of the company is determined to be $2,000,000.
Step-by-step explanation:
In this case, we need to calculate the owner's equity of the company given the assets to liabilities ratio and the total assets. The assets to liabilities ratio of 3:2 means that for every 3 units of assets, there are 2 units of liabilities. We can use this ratio to determine the amount of liabilities. Let's assume the total assets are represented by 3x and the total liabilities are represented by 2x. Given that the total assets are worth $6,000,000, we can set up the equation 3x = $6,000,000 to solve for x. Solving for x, we find that x = $2,000,000. Therefore, the total liabilities are 2x = 2 * $2,000,000 = $4,000,000. To calculate the owner's equity, we subtract the total liabilities from the total assets: $6,000,000 - $4,000,000 = $2,000,000. Therefore, the owner's equity is $2,000,000.