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6 March, 14:03

Explanation of accounting equation

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  1. 6 March, 14:32
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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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