Question

Accounting equation of paid by cheque​

Answer 1

Answer:

Assets = Liabilities + Shareholders' Equity

Answer 2

Answer:

The accounting equation whereby assets = liabilities + shareholders' equity is calculated as follows: Accounting equation = $157,797 (total liabilities) + $196,831 (equity) equal $354,628, (which equals the total assets for the period)

With example :-Balance sheet equation parts

Assets are items of value that your business owns. For example, your business bank account, company vehicles, and equipment are assets. Liabilities are debts that you owe to others. For example, your payables are liabilities. ... Calculate equity by subtracting your assets from liabilities.

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