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    Joune's Avatar
    Joune Posts: 2, Reputation: 1
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    #1

    Feb 20, 2016, 08:47 PM
    Acccounting
    What Is and an equity.
    Joune's Avatar
    Joune Posts: 2, Reputation: 1
    New Member
    		  
    #2

    Feb 20, 2016, 08:53 PM
    Best deals inc has a 10 unit in ending marchandise Inventory on December 31. The units Where purchased in November for 150 each. The Price list from supliers indicate The current replacement Cost of The ítem to be $156 each . What would be The amount reported as merchandise Inventory on The balances Sheet
    Dchdman's Avatar
    Dchdman Posts: 226, Reputation: 17
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    #3

    Feb 21, 2016, 04:10 AM
    Hello

    Equity is the difference between the value of the assets/interest and the cost of the liabilities of something owned. For example, if someone owns a car worth $15,000 but owes $5,000 on that car, the car represents $10,000 equity. Equity can be negative if liability exceeds assets.

    Hope this helps
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #4

    Feb 21, 2016, 05:18 AM
    Equity is the owner's interest in the entity and is the difference between assets and liabilities
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