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

    Dec 15, 2009, 08:39 AM
    What is opening balance equity
    What is opening balance equity
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Jan 1, 2010, 01:34 PM

    The difference between your assets and liabilities.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #3

    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.

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