10 Nov Determine the owners’ equityRamsey corporation rep
Determine the owners’ equityRamsey corporation reported the following accounts and balances in its financial statements: cash $35,000?inventory $10,200,equipment $19,500,accounts payable $16,350,contributed capital $30,000, retained earnings $18,350 arrange the accounts and balances into the accounting equation using the following equation and then answer the following questions; Assets=liabilities=owners’equity what is the total amount of assets? what is the total amount of liabilities? What is the total amount of owners’ equity?
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