Calories v exercise

[ffg123]

If I eat 1500 calories a day and burn off 500 exercising does that mean my calories for the day are 1000?

Yes.
It's not always totally accurate though. One person might burn more calories walking than another

Yes, but don't forget You have a baseline of calories that you burn just by sitting around doing nothing. For the average woman that's around 2000 but obviously varies hugely based on your height / weight / metabolism etc. The more overweight you are, the more calories you burn just existing.

Let's say you are an average woman. You're automatically burning around 2000 Cals a day just by existing. Now let's say you go for a run and burn 500 cals. That means the amount of calories you need to consume to maintain your weight is 2500.