Question

On May 31 of the current year, the assets and liabilities of Riser, Inc. are as follows: Cash $21,500; Accounts Receivable, $7,400; Supplies, $750; Equipment, $12,150; Accounts Payable, $9,500. What is the amount of owner's equity as of May 31 of the current year

Answer 1

Step-by-step explanation:

On May 31 of the current year, the assets and liabilities of Riser, Inc. are as follows: Cash $21,500; Accounts Receivable, $7,400; Supplies, $750; Equipment, $12,150; Accounts Payable, $9,500. What is the amount of owner's equity as of May 31 of the current year