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    dione662's Avatar
    dione662 Posts: 6, Reputation: 1
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    #1

    Feb 23, 2008, 05:54 PM
    Balance Sheets
    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
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
    		  
    #2

    Feb 23, 2008, 08:30 PM
    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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