They cancel out because both sides must be equal.
In your question both sides involve 2 to the power of something. Seeing as 2=2 then the powers must also be equal (because both sides are equal) leaving you with just the powers of one side being equal to the powers of the other side (as they must have the same effect on 2, because, again the two sides are equal).
Sounds like im repeating myself a lot, i know, but its hard not to- theres no other way really to explain this to you as its just a single simple step. I'm sure it'll make sense to you if you just think a little more on it.
If for example the last line but 1 had been
43y=22(2x+3) then you couldn't have simply canceled 4 and 2 out to give
3y=4x+6 Instead, you would have to write 4 in powers of 2
(22) so your solution would have looked like:
(22)3y=22(2x+3)[br](2)6y=22(2x+3)and THEN you could cancel the bases on either side (seeing as they are now both two) to give
6y=4x+6.Hope this clarifies your problem a bit...
EDIT: SORRY BEAR WITH ME- FIRST TIME USING LATEX AND HAVING SOME PROBLEMS