The amount of equity if a business has $1,000 assets, $300 liabilities, $2,000 revenue and $500 expenses in the current period is $700.
In finance, equity is ownership of assets that may have debts or other liabilities attached to them. Equity is measured for accounting purposes by substracting liabilities from the value of the assets.
Given from the question
assets = $1,000
revenue = $2,000
liabilities = $300
expenses = $500
Now, let's calculate the equity
Equity = total assets - total liabilities
= ($1,000) - ($300)
= $700
Therefore, the amount of equity of the business is $700.
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