| Equity + Liabilities |
2016 |
2017 |
Assets |
2016 |
2017 |
|
Amount $ |
Amount $ |
|
Amount $ |
Amount $ |
| Equity |
164,980 |
269,636 |
Fixed Assets |
|
|
| (Balancing Figure) |
|
|
Office Equipment |
112,390 |
119,717 |
|
|
|
Trucks |
43,980 |
52,980 |
| Long term liabilities |
|
|
Building |
- |
146,610 |
| Note Payable |
- |
83,193 |
Land |
- |
36,583 |
|
|
|
|
|
|
| Current Liabilities |
|
|
Current Assets |
|
|
| Accounts Payable |
61,020 |
30,264 |
Cash |
42,759 |
6,324 |
|
|
|
Accounts Receivable |
23,210 |
18,197 |
|
|
|
Office Supplies |
3,661 |
2,682 |
|
|
|
|
|
|
| Total |
226,000 |
383,093 |
Total |
226,000 |
383,093 |
We know that Assets = Liabilities + Equity
In the present scenario, we have all the figures of Assets and
Liabilities but we do not have figure of Equity. So, using the
above equation, we will find the figure of equity as balancing
figure as follows
Equity = Assets - Liabilities
