Accounting Equation

What is the basic accounting equation?

(a)  

_______ is a financial statement that reports a business's assets, liabilities, and capital on a specific date

Capital (owner's equity) is the value of the owners' investment in the business after subtracting liabilities from assets.

Which of the following is not a liability

How do you find liabilities?

Define the term Owner's Equity

Which correctly shows a list of assets and liabilities?

What must the owner's equity equal if assets equal $1,800 and liabilities equal $800?

If liabilities equal $400 and owner's equity equals $800, what do the assets equal?

Assets = Liabilities + Owner's Equity

Assets - 200,000

Liabilities- ?

Owner's Equity- 90,000