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Author Question: What equation is fundamental to a balance sheet? What will be an ideal ... (Read 24 times)

gbarreiro

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on: Jul 21, 2018
What equation is fundamental to a balance sheet?
 
  What will be an ideal response?

Question 2

How is net profit or loss calculated?
 
  What will be an ideal response?


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Liamb2179

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Reply #1 on: Jul 21, 2018
Answer to Question 1

The equation for the balance sheet is: assets = net worth  liabilities.

Answer to Question 2

Net profit or loss is calculated as gross profit minus total expenses.


gbarreiro

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Reply 2 on: Jul 21, 2018
Great answer, keep it coming :)

alvinum

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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