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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 Balance Sheet for year ending December 31 Assets Cash: 15,000 Inventory: 2,000 - Equipment: 10,000 Total Assets: 27,000 Liabilities Credit card balance 3,500 Long-term debt: 0 Unearned revenues: 2,500 Total Liabilities: 6,000 A. 6,000 B. 15,000 C. 21,000 D. 27,000 Go To Summary

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 Balance Sheet for year ending December 31 Assets Cash: 15,000 Inventory: 2,000 - Equipment: 10,000 Total Assets: 27,000 Liabilities Credit card balance 3,500 Long-term debt: 0 Unearned revenues: 2,500 Total Liabilities: 6,000 A. 6,000 B. 15,000 C. 21,000 D. 27,000 Go To Summary

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 Balance Sheet for year ending December 31 Assets Cash: 15,000 Inventory: 2,000 - Equipment: 10,000 Total Assets: 27,000 Liabilities Credit card balance 3,500 Long-term debt: 0 Unearned revenues: 2,500 Total Liabilities: 6,000 A. 6,000 B. 15,000 C. 21,000 D. 27,000 Go To Summary

Solución

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Celestemaestro · Tutor durante 5 años
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To calculate the equity in the balance sheet, we need to subtract the total liabilities from the total assets.<br /><br />Total Assets = $27,000<br />Total Liabilities = $6,000<br /><br />Equity = Total Assets - Total Liabilities<br />Equity = $27,000 - $6,000<br />Equity = $21,000<br /><br />Therefore, the correct answer is C.,000.
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