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M
melena-goh
March 9, 2025
Question

can anyone help me balance my balance sheet?

  • March 9, 2025
  • 1 reply
  • 0 views
cash is $2170, equipment is worth $52,830, depreciation value is $1258, owner's equity is $55,000 how do I balance my sheet?

    1 reply

    M
    MindyB
    March 10, 2025

    Is the "worth" of the equipment the cost before or after depreciation expense?  It seems that it may be before, so if that is the case, the net book value of the equipment is $51,572.

     

    Your owner's equity should be decreased by $1,258, since your income decreased by the depreciation at some point. 

     

    Here is an article you may find helpful:  What is owner's equity and how do you calculate it?

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