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assets equals liabilities minus owner's equity: Find help at College-Cram.com
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it is called a 'balance' sheet because the amount of assets should equal (or 'balance') the sum of the liabilities and owner's e
owner's equity
owner's equity debit
revenue equals profit
revenue equals price times quantity
then making sure that the sum of all debits equals the sum of all credits -- that the two amounts balance. The trial balance is
liabilities
total liabilities
current liabilities
