Required information The following information applies to th

Required information The following information applies to the questions displayed belowJ At December 31, 2018, the accounting records of Braun Corporation contain the following items s 18,see Accounts Receivable S 45,0e Accounts Payable Land Capital Stock Building Retained Earnings 245,e00 Cash ? Equipment 125,606e 195,eee s185,e00 Notes Payable s 165,eee Cash at December 31, 2018, is $31,000, total owners\' equity is: Multiple Choice $165,000 $378,500. S631.000. $417,500

Solution

Calculate total owner\'s equity :

So answer is d) $417500

Cash	31000
Account receivable	45000
Land	245000
Building	185000
Equipment	125000
Total assets	631000
Account payable	-18500
Notes payable	-195000
Owner\'s equity	417500