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James Has a Business Mowing Lawns

Question 15

Multiple Choice

James has a business mowing lawns.On 31 December 2016,he has a utility truck worth $7000,a mower worth $250 and an edger worth $110.Fuel on hand cost $70.Customers owe him $360 and he owes his fuel supplier $90.He owes his sister $5000,which is a long-term loan,and he has $110 in his business bank account.
-What is James's owners' equity?


A) $110
B) $2590
C) $2810
D) $7810

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