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Homework answers / question archive / Which financial statement's structure is closest to that of the basic accounting equation?
Which financial statement's structure is closest to that of the basic accounting equation?
The accounting equation is:
Assets = Liabilities + Stockholder's Equity
The balance sheet shows the total assets, liabilities, and stockholder's equity. Total assets are calculated at the top of the balance sheet. Total liabilities and stockholder's equity is calculated at the bottom of the bottom sheet.
