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    IHS123's Avatar
    IHS123 Posts: 2, Reputation: 1
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    #1

    Dec 15, 2009, 08:38 AM
    What is opening balance equity
    What is opening balance equity
    The607's Avatar
    The607 Posts: 1, Reputation: 1
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    #2

    Jan 4, 2010, 09:59 PM
    Oh snap!! Ihs? The 607? Lmao.. u must b in my accounting class
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #3

    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.
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