What is the amount of its owners equity

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Use the accounting equation to answer each question that follows.

1. Ambria Company's assets are $240,000, and its liabilities are $90,000. What is the amount of its owner's equity?

2. Dao Company's liabilities equal one-fifth of the total assets. The owner's equity is $40,000. What is the amount of the liabilities?

Reference no: EM131194985

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