Use the information above to answer the question below. What is the owners' equity?

Assessment: JAMB UTME - Commerce - 2003 Subject: Commerce

Question 1 Report

Use the information above to answer the question below.

What is the owners' equity?

Answer Details
The owners' equity is the value of the owner's investment or interest in the business. It represents the residual interest in the assets of the business after deducting liabilities. In the information provided, the owners' equity can be calculated by subtracting the total liabilities (N170,000) from the total assets (N420,000), which is equal to N250,000. Therefore, the owners' equity is N250,000.
Read lesson note on Business Capital And Profits (WAEC)
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