Question

state the basic accounting equation​

Answer 1

Answer:

The accounting equation whereby assets = liabilities + shareholders' equity is calculated as follows: Accounting equation = $163,659 (total liabilities) + $198,938 (equity) equals $362,597, (which equals the total assets for the period)

Answer 2

Answer:

The accounting equation whereby assets = liabilities + shareholders' equity is calculated as follows: Accounting equation = $163,659 (total liabilities) + $198,938 (equity) equals $362,597, (which equals the total assets for the period)

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