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1answer
92 views

Can shareholders’ equity be more than total assets?

I was just learning about DuPont Identity on investopedia with this example: #DuPont Identity Example Calculation Assume a company reports the following financial data for two years: Year one net ...
1
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2answers
247 views

Receive liability as a present

My parents in law want to give my kids a used car as a present for their 17th birthday (about 8000 dollars). I know that this is going to add about 250 monthly on gas+taxes+maintenance to our expenses....
-2
votes
1answer
91 views

What is a term for the elements of a balance sheet?

What is a term for the elements of a balance sheet? Specifically I need a term that includes assets, liabilities, and owners equity. This term (t) needs to be one where I can say x "is a" t where x ...
1
vote
2answers
2k views

Total assets and current assets

I was looking into company investment data and was doing some ratio calculation when I stumbled upon 4 Terms "Total Assets", "Current Assets", "Total Liabilities", "Current Liabilities". My instinct ...
1
vote
2answers
15k views

How do I calculate my own assets?

What should I include in my asset calculations? How do I know what is an asset and what is a liability?
2
votes
1answer
433 views

Where to record existing assets when starting double-entry accounting

Very rarely would anyone start recording their accounting with zero assets or liabilities. Question is - under which account would you record them? Specifically, if you own property, you would debit ...