To calculate XYZ Company's owner's equity, we need to follow these steps:
1. Determine Total Assets:
- Cash: \[tex]$34,000
- Inventory: \$[/tex]23,000
- Property: \[tex]$98,000
Total Assets = \$[/tex]34,000 + \[tex]$23,000 + \$[/tex]98,000 = \[tex]$155,000
2. Determine Total Liabilities:
- Notes Payable: \$[/tex]31,000
- Wages Payable: \[tex]$42,000
Total Liabilities = \$[/tex]31,000 + \[tex]$42,000 = \$[/tex]73,000
3. Determine Total Owner's Equity:
- Stock: \[tex]$45,000
- Investment: \$[/tex]37,000
Total Owner's Equity = \[tex]$45,000 + \$[/tex]37,000 = \[tex]$82,000
Combining all this information, XYZ Company's owner's equity is \$[/tex]82,000.