On June 30 of the current year, the assets and liabilities of Phoenix, Inc. are as follows: Cash $20,500; Accounts Receivable, $7,250; Supplies, $650; Equipment, $12,000; Accounts Payable, $9,300. What is the amount of owner's equity as of June 30 of the current year? Group of answer choices $13,050 $8,300 $31,100 $20,500
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On June 30 of the current year, the assets and liabilities of Phoenix, Inc. are as follows: Cash $20,500; Accounts Receivable, $7,250; Supplies, $650; Equipment, $12,000; Accounts Payable, $9,300. What is the amount of owner's equity as of June 30 of the current year?
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- "What was the return on net worth for the year?" Investment Assets at Year End $170,000 Investment Assets at Beginning of Year $125,000 Savings $25,000 Employer Match to 401(k) $4,800 Gross Income $120,000 Total Assets at Year End $650,000 Total Assets at Beginning of Year $610,000 Total Liabilities at Year End $235,000 Total Liabilities at Beginning of Year $240,000 4.11% O 12.16% 9.45% 5.41%.GIVE SHORT ANSWER The Statement of Financial Position and the Statement of Profit and Loss of ABC Bank include the following main items (thousand UAH): Of 31 December 2021 Customer accounts– 4500; Share capital – 1700; Other components of equity – 200; Due to NBU – 1200; Due to banks – 800; Mandatory reserves – 600; Due from banks – 1300; Loans to customers – 1000; Investment securities– 5000; Assets held for sale – 2000; Other fin. liabilities – 1500 For the year ended 2021 Interest expense – 800; Interest income – 2400; Fee and commission income – 1500; Fee and commission expense – 900; Foreign exchange transaction losses – 700; Foreign exchange transaction gains – 300; Administrative and other operate expenses – 260; Income tax – 100; The task: Set up a T-account balance sheet for the bank, with assets, liabilities and equity. Which liabilities item is the largest and what is its share (in %) in the structure of (Liabilities + Equity)? Define and explain this type of Liabilities…Owner's equity is OR150,000 and total liabilities are OR90,000. Total assets would be: Select one: a. OR60,000. O b. OR300,000. O c. OR240,000. O d. OR180,000.
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