Assets = liabilities + owner equity
$1085 = $225 + ?
$1085 - $225 = $860
owner equity = $860 Is this right?
In a different problem assets were listed as "total" assets and gave liabilities and asked to calcualte OE. I did it the same way ...... But now I am not sure if it is supposed to be done differently since it says "net assets" in this problem . The more I read the chapter, the more confused I get.
You are correct. The fact that in the other problem says Total Assets and this one Net Assets is just to confuse you, but thet essentially mean the ...
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