Question 14 of 20 50 50 points if total liabilities

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Question 14 of 20 5.0/ 5.0 Points If total liabilities are $1,000 and total assets are $8,000, owner's equity must be __________. A. $7,000 B. $3,000 C. $10,000 D. $13,000
Question 15 of 20 5.0/ 5.0 Points Katie's Vegetarian Restaurant, with total assets of $90,000, borrows $15,000 from the bank. Which of the following is a true statement upon borrowing the money?
Question 16 of 20 5.0/ 5.0 Points If total assets are $30,000 and total liabilities are $18,000, Capital must equal __________.
Question 17 of 20 5.0/ 5.0 Points
How does the purchase of office equipment on account affect the accounting equation?
Question 18 of 20 5.0/ 5.0 Points Accounting provides information to __________. A. managers B. government C. investors D. All of these answers are correct.
Question 19 of 20 5.0/ 5.0 Points Assets are equal to __________.
Question 20 of 20 5.0/ 5.0 Points Strum Hardware has total assets of $50,000. What are the total assets if new equipment is purchased for $10,000 cash?
B. $50,000 C. $55,000 D. $60,000

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