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The Resources Owned by David's Spa and Salon Total $148,000

Question 17

Multiple Choice

The resources owned by David's Spa and Salon total $148,000. The total amount of debt that it owes to others is $87,000. Which of the following describes David's Spa and Salon?


A) owners' equity is $61,000
B) liabilities are $148,000
C) liabilities are $61,000
D) owners' equity is $235,000

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