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What is the amount of owner equity as of July

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Reference no: EM132943208

Question - On June 30 of the current year, the assets and liabilities of Merak Berhad are as follows:

Cash RM20,500;

Accounts Receivable, RM7,250;

Supplies, RM650;

Equipment, RM12,000;

Accounts Payable, RM9,300.

Required - What is the amount of owner's equity as of July 1 of the current year?

a. RM20,500

b. RM31,100

c. RM8,300

d. RM40,400

e. RM13,050

Reference no: EM132943208

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