Answer:
B $15,000; $10,000; $5,000
Explanation:
The owner's equity is the amount of money invested by the owner into the business.
The liability represents the obligations of the entity to third parties while the assets are the resources owned by the entity.
Given that Chase invested $5,000 of his own money in his new auto detailing business and then obtains a loan and builds a small workshop in his backyard for $10,000.
Equity = $5,000
Asset which is the small workshop and the cash invested = $10,000 + $5,000 = $15,000
Liability which is loan taken = $10,000
Hence, assets, liabilities and equity are $15,000; $10,000; $5,000 respectively.
