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Example for accounting equation?
Anonymous
Feb 16
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Example for accounting equation?
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Feb 16
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An example of the accounting equation is as follows:
Assets = Liabilities + Equity
Let's say a company has the following financial information:
- Total assets: $100,000
- Total liabilities: $40,000
- Total equity: $60,000
Using the accounting equation, we can verify if the equation is balanced:
$100,000 (Assets) = $40,000 (Liabilities) + $60,000 (Equity)
In this example, the accounting equation is balanced, which means that the company's total assets are equal to the sum of its total liabilities and equity.
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