haro company has assets equal to $1,230,000 and liabilities equal to $470,000 at year - end. equity for haro…

haro company has assets equal to $1,230,000 and liabilities equal to $470,000 at year - end. equity for haro company at year - end equals: multiple choice $1,700,000 $235,000 $615,000 $1,085,000 $760,000

haro company has assets equal to $1,230,000 and liabilities equal to $470,000 at year - end. equity for haro company at year - end equals: multiple choice $1,700,000 $235,000 $615,000 $1,085,000 $760,000

Answer

Explanation:

Step1: Recall accounting - equation

Assets = Liabilities + Equity. So, Equity = Assets - Liabilities.

Step2: Substitute given values

Assets = $1,230,000 and Liabilities = $470,000. Then Equity = $1,230,000 - $470,000.

Step3: Calculate equity

$1,230,000 - $470,000=$760,000.

Answer:

$760,000