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    kamikah25's Avatar
    kamikah25 Posts: 4, Reputation: 1
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    #1

    Mar 4, 2012, 06:46 PM
    Accounting
    Use the following information as of December 31 to determine equity.
    Liabilities $141,000
    Cash $57,000
    Equipment $206,000
    Buildings $175,000
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Mar 4, 2012, 07:02 PM
    First you need to add your assets together i.e. cash, equipment, and buildings.

    Since the accounting equation is:
    Assets = Liabilities + Owners Equity so you can rearrange the formula to:
    Owners Equity = Assets - Liabilities

    So input your Assets and Liabilities amounts and solve for Owners Equity.
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