At The End Of The Year, A Corporation Has Assets Of $6,500 And Liabilities Of $2,000. How Much Is The Company's Equity At The End Of The Year?
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Given: Assets at the end = $6500 Liabilities at the end = $2000 Find: Equity at the end = ? As we know Accounting Equation , so we have: Assets at the end = Liabilities at the end + Equity at the end Equity at the end = Assets at the end - Liabilities at the end Equity at the end = $6500 - $2000 Equity at the end = $4500