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Guest
21 March, 14:34
Explanation of accounting equation
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Benjamin Franklin
21 March, 15:22
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Calculating the Equation
The balance sheet holds the basis of the accounting equation:
Locate the company's total assets on the balance sheet for the period.
Total all liabilities, which should be a separate listing on the balance sheet.
Locate total shareholder's equity and add the number to total liabilities.
Total assets will equal the sum of liabilities and total equity.
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