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Using the accounting equation (A = L + OE) calculate the amount of equity the company has if your assets are worth $10,000 total, while your debt is $5,000.

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Samawati

Answer:

$5,000

Explanation:

The Equation  (A = L + OE) is the accounting equation that guides in preparing a balance sheet. The equation in full is

Assets = Liabilities + Owners Equity.

In this case

Assets = $10,000 , liabilities = $5,000, equity = ?

$10,000 = $5000 + Equity

Equity = $10,000 - $5,000

Equity = $5,000

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