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Question - On June 30 of the current year, the assets and liabilities of Merak Berhad are as follows:
Cash RM20,500;
Accounts Receivable, RM7,250;
Supplies, RM650;
Equipment, RM12,000;
Accounts Payable, RM9,300.
Required - What is the amount of owner's equity as of July 1 of the current year?
a. RM20,500
b. RM31,100
c. RM8,300
d. RM40,400
e. RM13,050
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