Determine the owner's equity
...
Determine the owner's equity
N 38 000 000
N 20 000 000
N 42 000 000
N 25 000 000
Correct answer is A
Owner's Equity = Assets - Liabilities
Assets = 26,000,000 + 5,000,000 + 22,000,000 = 53,000,000
Liabilities = 4,000,000 + 11,000,000 = 15,000,000
Equity = 53,000,000 - 53,000,000 = 38,000,000
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