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If a company’s total assets are $500,000 and total liabilities are $300,000, wha
If a company’s total assets are $500,000 and total liabilities are $300,000, what is its equity?
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Practice Questions
1 question
Q1
If a company’s total assets are $500,000 and total liabilities are $300,000, what is its equity?
$200,000
$300,000
$500,000
$100,000
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Equity = Total Assets - Total Liabilities = 500,000 - 300,000 = $200,000.
Questions & Step-by-step Solutions
1 item
Q
Q: If a company’s total assets are $500,000 and total liabilities are $300,000, what is its equity?
Solution:
Equity = Total Assets - Total Liabilities = 500,000 - 300,000 = $200,000.
Steps: 6
Show Steps
Step 1: Identify the total assets of the company, which is $500,000.
Step 2: Identify the total liabilities of the company, which is $300,000.
Step 3: Use the formula for equity, which is Equity = Total Assets - Total Liabilities.
Step 4: Substitute the values into the formula: Equity = 500,000 - 300,000.
Step 5: Calculate the result: 500,000 - 300,000 = 200,000.
Step 6: Conclude that the equity of the company is $200,000.
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