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Slim helu ledgers and numbers
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30. A = L + E
E = C + RE
RE = NI –W
NI = R –E
E = C + R –E –W
A = L + C + R –E –W
A = L + C – W + R –E
A+E+W = L+C+R
Remember that for every transaction,
The Sum of Debits = The Sum of Credits.
The left side of the balance sheet must balance the right side:
Assets + Expenses = Liabilities + Owners' Equity+ Revenue/Profit.