00:01
Hello students, welcome back to another question.
00:01
So basically in this question, what we have to do, we have to use the expanded accounts equation, you know, in order to find out the equities.
00:18
So firstly, let us just find out, we know the expanded accounting equation is equity is equals to assets minus liabilities.
00:37
Liabilities are the shortcomings, right? so by the beginning of the year, firstly, we have to find out the equity.
00:47
So by the beginning, our assets were $29 ,000 and our liabilities were $16 ,000.
01:00
So our equity for the beginning comes out to be $29 ,000 minus $16 ,000.
01:14
That is $13 ,000...