You own a store that sells video games. You owe $25,000.00 to video game vendors; you have a ten-year bank loan of $50,000.00; your bank account balance is $13,000.00; you own inventory worth $57,000.00; you have $2,000.00 in account receivable; and fixed assets are $22,000.00.

What are your total assets, liabilities, and owner’s equity?
You own a store that sells video games. You owe $25,000.00 to video game vendors; you have a ten-year bank loan of $50,000.00; your bank account balance is $13,000.00; you own inventory worth $57,000.00; you have $2,000.00 in account receivable; and fix

Question

You own a store that sells video games.  You owe $25,000.00 to video game vendors; you have a ten-year bank loan of $50,000.00; your bank account balance is $13,000.00; you own inventory worth $57,000.00; you have $2,000.00 in account receivable; and fixed assets are $22,000.00.

What are your total assets, liabilities, and owner’s equity?  
 You own a store that sells video games.  You owe $25,000.00 to video game vendors; you have a ten-year bank loan of $50,000.00; your bank account balance is $13,000.00; you own inventory worth $57,000.00; you have $2,000.00 in account receivable; and fix

anonymous · Answer

Assets
 13,000
 57,000
 2,000
 22,000
 Total Assets = 94,000
 
Liabilities
 25,000
 50,000
 Total Liabilities = 75,000
 
Owner's Equity
 Assets - Liabilities = Owner's Equity
 94,000 - 75,000 = $19,000

anonymous · Answer

Hope this helps. :)