The Owner's Equity of Logan's Company Is Equal to One-Quarter

question 37

Multiple Choice

The Owner's Equity of Logan's Company is equal to one-quarter of the total assets.Liabilities equal $60,000.What is the amount of Owner's Equity?

• A)$40,000
• B)$20,000
• C)$30,000
• D)None of these answers are correct.

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