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What is the value of the owner equity

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Reference no: EM13507472

Classify the items below by printing on the blank like

A. if the item is an asset
L if the item is a liability
OE if the item is owners equity.

1. _________ prepaid insurance
2.__________ supplies
3._________ Kim Park, capital
4._________ amount owed to Supply Depot Supplies
5._________ amount invested in the business
6._________ Cash
7.__________any amount owed

complete the following statements by writting the correct value on the blank line.

1. The total assets on a balance sheet are 67,500. The total liabilities are 37,200. What is the value of the owner's equity?

2. Suppose the total assets of TechKnow Consulting are $1,100,000. The owner's equity is 700,000. What is the total of the liabilities?

Reference no: EM13507472

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