E-Z Electrical has assets of $$ \$ 157,000 $$ and liabilities of $$ \$ 71,000 $$. What is the owner's equity? Select one: a: $$ \$ 158,000 $$ b. $$ \$ 86,000 $$ c. $$ \$ 81,000 $$ d. $$ \$ 117,000 $$

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UpStudy AI · Accepted Answer

To find the owner's equity, we can use the formula:

$$
\text{Owner's Equity} = \text{Assets} - \text{Liabilities}
$$

Given:
- Assets = $$ \$ 157,000 $$
- Liabilities = $$ \$ 71,000 $$

Now, let's calculate the owner's equity step by step:

1. Substitute the values into the formula:
   $$
   \text{Owner's Equity} = 157,000 - 71,000
   $$

2. Perform the subtraction:
   $$
   \text{Owner's Equity} = 86,000
   $$

Thus, the owner's equity is $$ \$ 86,000 $$.

The correct answer is:
**b. $$ \$ 86,000 $$**.
The owner's equity is \$86,000.

E-Z Electrical has assets of and liabilities of . What is the owner’s equity?
Select one:
a:
b.
c.
d.

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E-Z Electrical has assets of and liabilities of . What is the owner’s equity? Select one: a: b. c. d.