Ask Question
BusinessBusiness
17 May, 02:02

On the balance sheet, owner's equity is a. equal to the total of assets and liabilities b. subtracted from liabilities and the net amount is equal to assets c. added to assets and the two are equal to liabilities d. added to liabilities and the two are equal to assets

+1
Answers (1)
  1. 17 May, 05:42
    0
    d. added to liabilities and the two are equal to assets.

    Explanation:

    The accounting equation is also called the balance sheet equation and states the a companie's assets is a sum of the total liabilities and owner's equity.

    This is the basis of double entry accounting, where every transaction has an equal amount of debits and credits.

    Mathematically

    Asset = Liabilities + Owner Equity
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “On the balance sheet, owner's equity is a. equal to the total of assets and liabilities b. subtracted from liabilities and the net amount ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
When a project team member is not performing, rewards may not prove as effective as a coercive approach that threatens the team member with undesired consequences. a. Trueb. False
Answers (1)
Operating activities include long-term borrowing and repaying cash from lenders, and cash investments by or dividends paid to stockholders. a. True b. False
Answers (1)
Choose all that apply. Read the following paragraph. Select each of the ways Max was financially responsible. Max needed to make a tough decision about a purchase.
Answers (2)
The characteristic of partnerships that states that every partner can bind the business to a contract within the scope of the partnership's regular business operations is called A. limited life. B. co-ownership of property. C. unlimited liability. d.
Answers (1)
Supply and demand coordinate to determine prices by working
Answers (1)
New Questions in Business
A fixed asset with a cost of $22,535 and accumulated depreciation of $20,282 is traded for a similar asset priced at $60,652. Assuming a trade-in allowance of $5,605, the cost basis of the new asset in a transaction with commercial substance is a.
Answers (1)
On December 31, 20X1, Deal, Inc. failed to accrue the December 20X1 sales salaries that were payable on January 6, 20X2.
Answers (1)
What do economists mean when they use the term "actual demand"?
Answers (1)
Subtracting a decrease in unearned revenue from net income eliminates the effect of recording revenue that:
Answers (1)
A taxpayer should include which of the following when figuring their federal gross income? a. Prior-year federal income tax refund. b. Ordinary dividends. c. Personal injury compensation. d. Qualified disaster relief payments.
Answers (1)
Home » Business » On the balance sheet, owner's equity is a. equal to the total of assets and liabilities b. subtracted from liabilities and the net amount is equal to assets c. added to assets and the two are equal to liabilities d.
Sign Up Forgot Password?