Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=19)
-   -   What is opening balance equity (https://www.askmehelpdesk.com/showthread.php?t=425247)

  • Dec 15, 2009, 08:39 AM
    IHS123
    What is opening balance equity
    What is opening balance equity
  • Jan 1, 2010, 01:34 PM
    pready

    The difference between your assets and liabilities.
  • Jan 4, 2010, 09:27 PM
    morgaine300

    "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.

  • All times are GMT -7. The time now is 07:28 AM.