Accounting Question!!! What needsto match when you do a balance sheet?

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Accounting Question!!! What needsto match when you do a balance sheet?

Assets and liabilities??

2007-05-01 12:42:36 · 4 answers · asked by mymailb9 1 in Business & Finance ➔ Other - Business & Finance

4 answers

Debits must equal credits.

Assets must equal liabilities and equity.

2007-05-01 12:49:22 · answer #1 · answered by lcmcpa 7 · 2⤊ 0⤋

The basic formula is Assets = Liabilities + Equity.

2007-05-01 19:46:14 · answer #2 · answered by Heather 2 · 0⤊ 0⤋

When doing a balance sheet, the total assets (A) must equal the total liabilities (L) plus shareholder's equity (E).

A simple equation to remember:

A = L + E

2007-05-01 19:46:58 · answer #3 · answered by professortig 2 · 0⤊ 0⤋

Your assets should balance to your liabilities.

2007-05-01 19:46:44 · answer #4 · answered by Angie 6 · 0⤊ 0⤋