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ZaddY · 03-07-2008, 05:10 PM

Sorry but your definition of assets is wrong.

The basic accounting equation is

Assets = Liabilities + Equity

Unless you add up both the liabilities and the equity, assets are not going to balance.

This is coming outright from my accounting 101 class

03-07-2008, 05:10 PM	#3 (permalink)
ZaddY Status: Owner/Administrator Join Date: Mar 2008 Location: Bay Area, CA Posts: 158	Sorry but your definition of assets is wrong. The basic accounting equation is Assets = Liabilities + Equity Unless you add up both the liabilities and the equity, assets are not going to balance. This is coming outright from my accounting 101 class __________________ Zahid H. Lilani