The basic accounting formula is: Assets = Liabilities + Owners’ Equity. This formula can also be written as:Liabilities = Assets – Owners’ Equity. Additionally, this formula can be written as:Owners’ Equity = Assets – Liabilities. When looking at financial reports for a company, you’ll notice that this formula represents the Balance Sheet. When looking at financial reports for a company, you’ll notice that this formula represents the Balance Sheet.
Accounting Accounting Formula Assets Balance Sheet Beginning of Month Beginning of Year Bookkeeping Chart of Accounts Customer Job Center Edit Item Edit List Edit Register End of Year Financial Statements Find Window First Day of Month First Day of Year Invoice Keyboard Shortcut Last Day of Month Last Day of Year Liabilities Memorized Transaction List Memorize Transaction Month New Item New Record New Transaction Owners' Equity Puerto Rico QuickBooks QuickBooks Course QuickBooks Enterprise QuickBooks Online QuickBooks Premier QuickBooks Pro Quick Report Register Window shortcut Update Video Course Video Training Webinar Write Checks Year