Question

If Total Assets are $2,700 and Total Liabilities is $2,100 then what is the value of Total Equity?

Answer 1

Answer: The value of total equity is $600

Step-by-step explanation:

We are given:

Total Assets = $2,700

Total Liabilities = $2,100

To calculate the value of Total equity, we use the equation:

`\text{Total Assets}=\text{Total Liabilities + Total Equity}`

Putting values in above equation, we get:

`\$2700=\$2100+\text{Total Equity}\\\\\text{Total Equity}=\$2700-\$2100=\$600`

Hence, the value of total equity is $600