Asked by Filip Gabric on May 09, 2024
Verified
Blackstone Buildings, Inc. had net sales of $645,000; cost of goods sold of $315,400; total assets of $686,052; and total liabilities of $450,600. Compute the owners' equity.
Owners' Equity
Refers to the residual interest in the assets of an entity after deducting liabilities, representing the capital belonging to the owners or shareholders.
Total Liabilities
The combined amount of all debts and obligations a company owes to outside parties at a given time.
Total Assets
The aggregate of all assets owned by an entity, both current and non-current, as recorded in the financial statements.
- Calculate owners' equity from financial data.
Verified Answer
Learning Objectives
- Calculate owners' equity from financial data.
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