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John is the owner of a tile company. His assets include $10,000 in cash, $9,500 in inventory and $5,000 in equipment. His liabilities include a $5,000 credit card balance and $9…

John is the owner of a tile company. His assets include $10,000 in cash, $9,500 in inventory and $5,000 in equipment. His liabilities include a $5,000 credit card balance and $9…
asked 121k views
23 votes
John is the owner of a tile company. His assets include $10,000 in cash, $9,500 in inventory and $5,000 in equipment. His liabilities include a $5,000 credit card balance and $900 in long-term debt. What is John's equity?

asked
User Nhat Nam NGUYEN
by
7.9k points

2 Answers

13 votes

Answer:$9,334

Explanation:

answered
User Darwen
by
8.4k points
10 votes

Answer:

Sorry If I'm late but I think the correct answer is 18,600

Explanation:

answered
User Martin Milichovsky
by
7.3k points
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