Question

The assets and liabilities of the company are $128,000 and $84,000, respectively. Equity should equal

a. $212,000
b. $44,000
c. $128,000
d. $84,000

Answer 1

The equity of the company is $44,000.

Step-by-step explanation:

In this question, the assets and liabilities of the company are given as $128,000 and $84,000, respectively. To find the equity, we need to subtract the liabilities from the assets. So, the equity would be $128,000 - $84,000 = $44,000.