Homework Answers
Option E $400 is correct
Equity = Total Assets (Short Term & Long Term) - Total Liabilities (Short Term & Long Term)
Assets Total = 2400
Liabilities Total = 2000
Equity = 2400 - 2000 = 400
The same is explained below,
| Assets | Amount | Liabilities | Amount |
| Fixed Assets | 1500 | Equity (Balancing Figure) | 400 |
| Intangible Assets | 200 | Long Term Liabilities | 1400 |
| Current Assets | 700 | Current Liabilities | 600 |
| Total | 2400 | Total | 2400 |
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