What would be the amount of owner equity

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Reference no: EM132751890

Problem 1: Ben's Bicycle Shop has current assets in the form of cash at $100,000. Current liabilities include accounts payable ($40,000) and unearned income ($30,000) and owner's equity. On a balance sheet for Ben's Bicycle Shop, what would be the amount of owner's equity? How did you arrive at this amount?

Reference no: EM132751890

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