Ask Question
BusinessBusiness
13 March, 21:14

Your restaurant has assets of $64,342 and liabilities of $47,266. What is the equity of your business?

+5
Answers (1)
  1. 14 March, 00:27
    0
    Equity of the business = $17,076.

    Explanation:

    Equity as used in business is used to refer to the difference between the worth of a business (its assets) and what the business owes (debts and liabilities).

    In other words, total equity refers to the value which is left in the company after the total liabilities must have been subtracted from the total assets.

    The formula to calculate total equity is given below:

    Equity = Assets - Liabilities

    Therefore to calculate the equity above, we have:

    Equity = $64,342 - $47,266

    Equity = $17,076.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Your restaurant has assets of $64,342 and liabilities of $47,266. What is the equity of your business? ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Mary Bronson, purchasing manager for the Los Angeles Tool Company, placed her quarterly order for supplies from the Gibson Paper Company. Mary has been dealing with Gibson for many years.
Answers (1)
Your company is considering submitting a bid on a major project. You determine that the expected completion time is 100 weeks and the standard deviation is 10 weeks. It is assumed that the normal distribution applies.
Answers (1)
You are a salesperson for Proctor and gamble selling Tide detergent. List and describe in detail the seven tasks that you or any other salesperson must perform in your profession.
Answers (1)
The three major types of firms in the united states are called
Answers (1)
Suppliers will supply more of a good when the price of that good rises because the opportunity cost of producing that good has risen. A. True B. False
Answers (1)
New Questions in Business
Which of the following actions will likely cause a project to fail? A) dedicating valuable team member time to identify risk events B) spending project funding to procure needed tools and spare parts C) unclear or conflicting stakeholder
Answers (1)
Mcgregor company allows customers to pay with credit cards. the credit card company charges mcgregor 2% of the sale. when a customer uses a credit card to pay mcgregor $300 for services provided, mcgregor would:
Answers (1)
Net worth is the difference between a firm's assets and its liabilities. a. True b. False
Answers (1)
Buyer Jim agreed to a 20-day window to get a survey done. A number of problems have occurred and after 20 days from the signed contract date, buyer Jim has yet to have a survey completed. What is now the status of the sales contract? a.
Answers (1)
Lawrence has worked in his career field for 20 years. one benefit of his experience over younger employees lies in
Answers (1)
Home » Business » Your restaurant has assets of $64,342 and liabilities of $47,266. What is the equity of your business?
Sign Up Forgot Password?