Your equity is equal to $2,200. Your equity is equal to $7,500.
Assets are the particulars your company owns that can give unborn profitable benefit. Arrears are what you owe other parties. In short, Assets put plutocrat in your fund, and arrears take plutocrat out!
means are distributed as either real, fiscal, or impalpable. All Assets can be said to be of profitable value to a pot or an individual. However, the item is considered an Asset, If it has a value that can be changed for cash. Impalpable Assets are precious property that isn't physical in nature.
A liability is commodity a person or company owes, generally a sum of plutocrat. arrears are settled over time through the transfer of profitable benefits including plutocrat, goods, or services.
Here,
Asset = 7500, liabilities = 2200
(Equity = Assets – Liabilities)
Hence,
Equity = 7500 - 2200
= 5300
Thus, $ 5300 equity will you have in the car.
Learn more about Assets and Liabilities here:
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