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You are examining the year-end balance sheet for your business. According to the information in the Balance Sheet.what is your equity in the business? Balance Sheet for year ending December 31 Assets Cash: 10,000 Inventory: 2,000 Equipment: 5,000 Total Assets: 17,000 Liabilities Credit card balance: 2,500 Long-term debt: 0 Unearned revenues: 3,500 Total Liabilities: 6,000 0000 7,000 11,000 17,000 10,000

Problemas

You are examining the year-end balance sheet for your business. According to the information in the Balance Sheet.what is your equity in the business? Balance Sheet for year ending December 31 Assets Cash: 10,000 Inventory: 2,000 Equipment: 5,000 Total Assets: 17,000 Liabilities Credit card balance: 2,500 Long-term debt: 0 Unearned revenues: 3,500 Total Liabilities: 6,000 0000 7,000 11,000 17,000 10,000

You are examining the year-end balance sheet for your business. According to the information in the Balance Sheet.what is your equity in the business? Balance Sheet for year ending December 31 Assets Cash: 10,000 Inventory: 2,000 Equipment: 5,000 Total Assets: 17,000 Liabilities Credit card balance: 2,500 Long-term debt: 0 Unearned revenues: 3,500 Total Liabilities: 6,000 0000 7,000 11,000 17,000 10,000

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Benitoélite · Tutor durante 8 años
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To calculate the equity in the business, we need to subtract the total liabilities from the total assets.<br /><br />Total Assets: $17,000<br />Total Liabilities: $6,000<br /><br />Equity = Total Assets - Total Liabilities<br />Equity = $17,000 - $6,000<br />Equity = $11,000<br /><br />Therefore, the equity in the business is $11,000.
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