What is the owner's equity. accounts receivable 50000 accounts payable 8000 salary expense 5000 office supply expense 1000 tow truck 18000 hoist equipment 15000 bank loan 15000 cash 17000 sup?

Owner's equity represents the residual interest in the assets of a business after deducting liabilities. To calculate it, you can use the formula: Owner's Equity = Assets - Liabilities. In this scenario, total assets include accounts receivable, tow truck, hoist equipment, and cash, totaling $100,000. Total liabilities, which include Accounts Payable and the bank loan, amount to $23,000, leading to owner’s equity of $77,000 ($100,000 - $23,000).