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Viewed from the terminals A, B the following circuit shown in figure can be reduced to an equivalent circuit of a single voltage source series with a single resistance with the following parameters:
5 volt source in series with 10Ω resistor
7 volt source in series with 2.4Ω resistor
15 volt source in series with 2.4Ω resistor
7 volt source in series with 10Ω resistor
When the circuit is converted to a voltage source in series with a resistance then it is called as Thevenin Equivalent.
For 
, voltage sources have been shorted
For 
Applying KVL in loop:-
Using KVL 
The Thevenin equivalent circuit is shown below,
