Accounting - The Accounting Equation Flashcards
1
Q
What is the most prominent form of the Accounting Equation?
A
Assets = Liabilities + Owner’s Equity
2
Q
What is the equation with Liabilities as the subject?
A
Liabilities = Assets - Owner’s Equity
3
Q
What is the equation with Owner’s Equity as the subject?
A
Owner’s Equity = Assets - Liabilities
