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    Imhiding's Avatar
    Imhiding Posts: 14, Reputation: 1
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    #1

    Sep 24, 2011, 02:27 PM
    How do I find expenses in comprehensive accounting equations?
    Assets: JAN o1=230
    Liabilities; jan 01=80
    OE jan 01=150
    assets dec 31=310
    liabilities dec 31=90
    oe dec 31=220
    revenues = 400
    expenses=?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Sep 24, 2011, 03:28 PM
    First you have to calculate your ending Owners Equity by taking your ending Assets minus Ending liabilities.

    Now you need to get the difference between your beginning Owners Equity plus Revenues and the Ending Owners Equity calculated above. This difference is your Expenses.
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