IHS123
Dec 15, 2009, 08:38 AM
What is opening balance equity
The607
Jan 4, 2010, 09:59 PM
Oh snap!! Ihs? The 607? Lmao.. u must b in my accounting class
morgaine300
Jan 5, 2010, 12:37 AM
An "opening" balance is just the beginning balance. Just another name for it. Are you confused over terminology or wondering how to get it? If the second, you need to let us know what info is available in the problem. In reality, a beginning balance is carried over from the ending balance of a prior period and not "calculated," so if you need to calculate it, it depends on the problem.