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A business has the following items in it:
A) Land $1,000,000
B) Machinery $20,000
C) Cash $10,000
D) Debt $0
E) Owner’s Equity?_______
(please explain your answer I want to understand!)

Respuesta :

SenpaiTrill

Hello there,

A business has the following items in it:

A) Land $1,000,000

B) Machinery $20,000

C) Cash $10,000

D) Debt $0

E) Owner’s Equity?_______

Assets = Liabilities + Equity  

$1.030.000 = 0+1.030.000

Therefore, answer would be $1,030,000