Question

what is accounting equations​

Answer 1

Accounting equation is the most basic principle of financial accounting. It states that at a point of time, the value of assets of a business is equal to sum of the value of its liabilities and its shareholders' equity.

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Answer 2

Explanation:

The accounting equation is considered to be the foundation of the double-entry accounting system. On a company's balance sheet, it shows that a company's total assets are equal to the sum of the company's liabilities and shareholders' equity.

Based on this double-entry system, the accounting equation ensures that the balance sheet remains “balanced,” and each entry made on the debit side should have a corresponding entry (or coverage) on the credit side

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