what is the total liabilites and the owners equity in the balance sheet you prepared in exam figure 4? a. $,5,906.54?
To determine the total liabilities and owner's equity in the balance sheet, you would need to refer to the provided "Exam Figure 4" balance sheet. As an AI text-based model, I don't have access to specific figures or images. However, I can guide you through the process of calculating these values based on the information provided in the balance sheet.
To calculate the total liabilities, you would identify all the liabilities listed on the balance sheet and sum them up. Common liabilities may include accounts payable, loans, advances from customers, or other debts owed by the company. Once you have identified and added up all the liabilities, you will have the total liabilities amount.
To calculate the owner's equity, you would need to consider the various components that contribute to it. Owner's equity typically includes the initial investment, retained earnings, and any additional capital that has been injected into the company by the owner(s). By summing up these components, you can determine the owner's equity amount.
Once you have calculated the total liabilities and owner's equity, you can add these two values together to find the total liabilities and owner's equity in the balance sheet. In this case, if the sum is $5,906.54 as specified in the question, then that would be your answer.