# Owner's Equity Question:Fill in the Blank

by Princess
(Malaysia)

Before you begin: For purposes of testing and exams it's important to not just get the questions right but also complete them at the right speed. Use a watch or clock to time yourself when answering this question.

Difficulty Rating:
Beginner

Time limit:
2 minutes

Q: Owner's equity = ________? + ________? - ________?

A: I'm not gonna answer this question.

I'll give you a little clue at least though: note that in this question they are not looking for just 2 items in the answer. They are looking for 3.

Owner's equity must equal: 1)__________ + 2)__________ - 3___________.

Now see if you can figure it out!

Check the answers in the comments section below - well done to Simphiwe and Accounting Prof, both of whose answers are correct. ;-)

Best,
Michael Celender
Founder of Accounting Basics for Students

Related Questions & Tutorials:

### Comments for Owner's Equity Question:Fill in the Blank

 Assets- liabilities by: Anonymous Assets - liabilities

 Equity?? by: Anonymous Equity = assets - liabilitiesI'm a grade 8 student doing accounts for the first time btw....😋😏😎😜😝😅😆

 question 1 by: Anonymous Owners equity = assets - liability

 owners equity by: simphiwe owners equity = capital + net profit - drawings

 long term lib by: Anonymous long term liability=?+?_?...

 Formula answer by: Accounting Prof Assets + liabilities is incorrect here because they are not looking at the equity side. So the question asked has three blanks not two. Therefore, the right answer is:OE = Retained earnings + net income - withdrawals (dividends).

 FILL IN THE BLANKS by: Anonymous SHARE CAPITAL + RETAINED EARNINGS - TREASURY SHARES

 owners equity by: Anonymous share capital + reserves - long term liabilities

 Accounting by: Anonymous OK, thank you Teacher :)

 accounting eq by: Anonymous owner equity= asset-liability

 formula by: Teacher You just need to learn your formula, it does not matter what grade you are in. :-)

 ANSWER???? by: Anonymous OWNER'S EQUITY = ASSET - LIABILITYPLEASE NOTE: I am a grade 9 student, so I might not be correct.