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    Dorisdunna's Avatar
    Dorisdunna Posts: 1, Reputation: 1
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    #1

    Sep 2, 2013, 07:37 AM
    Accounting
    How do I know my fee earn if my liability is 50 and my equity is 4370 equal to my assets 4420
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    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.
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