IHS123
Dec 15, 2009, 08:39 AM
What is opening balance equity
pready
Jan 1, 2010, 01:34 PM
The difference between your assets and liabilities.
morgaine300
Jan 4, 2010, 09:27 PM
"Opening balance" just means the beginning balance, and only assets, liabilities and equity will have them. Using the accounting equation (assets = liabilities + equity) and solving for that missing number as pready is suggesting will work assuming you also have been given the beginning balances for total assets and liabilities. But you're asking out of context.