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{"id":4088,"date":"2021-03-17T12:53:16","date_gmt":"2021-03-17T12:53:16","guid":{"rendered":"https:\/\/www.worldrealestatenetwork.com\/wordpress\/?p=4088"},"modified":"2024-10-16T11:53:30","modified_gmt":"2024-10-16T11:53:30","slug":"accounting-equation-a-simple-explanation","status":"publish","type":"post","link":"https:\/\/www.worldrealestatenetwork.com\/wordpress\/2021\/03\/17\/accounting-equation-a-simple-explanation\/","title":{"rendered":"Accounting Equation: a Simple Explanation"},"content":{"rendered":"

\"assets<\/p>\n

Some assets are tangible like cash while others are theoretical or intangible like goodwill or copyrights. Here we can see the list of all assets that have been reported on Hershey company balance sheet for 2023. Cash (asset) will reduce by $10 due to Anushka using the cash belonging to the business to pay for her own personal expense. As this is not really an expense of the business, Anushka is effectively being paid amounts owed to her as the owner of the business (drawings). Therefore cash (asset) will reduce by $60 to pay the interest (expense) of $60.<\/p>\n

\"assets<\/p>\n

How to Calculate Total Assets: Definition & Examples<\/h2>\n

\"assets<\/p>\n

In other words, we can say that the value of assets in a business is always equal to the sum of the value of liabilities and owner\u2019s equity. The total dollar amounts of two sides of accounting equation are always equal because they represent two different views of the same thing. The accounting equation shows how a company\u2019s assets, liabilities, and equity are related and how a change in one results in a change to another. In the basic accounting equation, assets are equal to liabilities plus equity. In the above total assets equation, we https:\/\/www.bookstime.com\/<\/a> add all the components to get the value of total assets. Then comes owner\u2019s equity which is part of the total asset that the owners of the business have contributed on their own.<\/p>\n

\"assets<\/p>\n

How confident are you in your long term financial plan?<\/h2>\n