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Dorisdunna
Sep 2, 2013, 07:37 AM
How do I know my fee earn if my liability is 50 and my equity is 4370 equal to my assets 4420

pready
Sep 2, 2013, 07:43 AM
The basic accounting equation is:

Assets = Liabilities + Owners Equity

So 4,370 in Equity + 50 in liabilities = 4,420 in assets.