On January 31, an entity's balance sheet showed net assets of $1,025 and liabilities of $225 Owners' equity on January 31 was:
A) $ 800
B) $1,025
C) $1,250
D) $ 225
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On January 31, an entity's balance sheet showed net assets of $1,025 and liabilities of $225 Owners' equity on January 31 was:
A) $ 800
B) $1,025
C) $1,250
D) $ 225
You balance sheet is the same as your accounting equation:
Assets = Liabilities + Equity
All you need do is insert the numbers they gave you and do the math to figure out the missing number.
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