Represents the amount of assets
owners put into a business
Equals assets minus liabilities
Is the excess of revenues over
expenses
Represents the owners' claims against
assets
Question 8. Question :
information include:
Internal users of accounting
Shareholders
Customers
Creditors
Government regulators
Line Supervisor
Question 9. Question :
A company has twice as much
owner's equity as it does liabilities. If total liabilities are
$50,000, what amounts of assets are owned by the company?
$50,000
$100,000
$150,000