Accounting – 1.2 The accounting equation | e-Consult
1.2 The accounting equation (1 questions)
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To calculate owner's equity, we first need to determine the total assets and the total liabilities.
| Cell | |
| Assets | £15,000 + £8,000 + £12,000 + £25,000 = £60,000 |
| Liabilities | £5,000 + £10,000 = £15,000 |
| Owner's Equity | £60,000 - £15,000 = £45,000 |
Therefore, the company's owner's equity is £45,000.