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How can you explain the basic accounting equation?

Gas Accounting Accounting Analysis Accounting and Finance
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Question added by Princes Carandang , Accounting Assistant , IPC Group LLC/New Finishing Way TRading Contracting and Services
Date Posted: 2017/07/24
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Princes Carandang
by Princes Carandang , Accounting Assistant , IPC Group LLC/New Finishing Way TRading Contracting and Services

Simlpy it is ASSET= LIABILITIES+ OWNERS EQUITY

 

To get the LIABILITIES AND EQUITY it is:

 

LIABILITIES=ASSET- EQUITY

OWNERS EQUITY= ASSET- LIABILITIES

 

Mohamed Al Zaharan Mohamed Lafir
by Mohamed Al Zaharan Mohamed Lafir , Accounting and Budgeting Manager , SAED International for Istigdam Company

Assets + Expenses = Capital + Liabilities  + Income

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