Determine the beginning owner's equity of a business having beginning assets of $9,000 and ending liabilities of $5,000. During the year the liabilities decreased by $1,000.
$ ________

Owner's Equity

The residual interest in the assets of the entity after deducting liabilities, representing the ownership interest in the company.

Beginning Assets

The value of all assets owned by a company at the start of a financial accounting period.

Ending Liabilities

The total amount of obligations and debts a company has at the end of an accounting period.