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What are the total owners equity

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Reference no: EM132017002

Question - Brady Brother's balance sheet at the end of the year revealed the following information:

A. Brady Brothers owes their attorney $1,000 in legal fees.

B. Brady Brothers owes the bank $130,000 due in 4 years.

C. Brady Brothers owns office equipment costing $50,000.

D. Brady Brothers owns inventory costing $200,000.

E. Brady Brothers' customers owe it $75,000.

F. Brady Brothers owes its suppliers $120,000.

G. Brady Brothers checking account has a balance of $25,000.

Use the relevant information to determine:

1. What are the total assets?

2. What are the total liabilities?

3. What are the total owners' equity?

Reference no: EM132017002

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