Kizspy | Question: 5
(Choose 1 answer)
On June 30 of the current year, the assets and liabilities of Phoenix Phildell are as follows: Cash $20,500;Accounts Receivable, $7,250; Supplies, $650; Equipment, $12,000; Accounts Payable, 9,300. What is the amount of owner's equity as of July 1 of the current year?
A. $8,300
B. $13,050
C. $20,500
D. $31,100
Ε. $40,400
