On 10/29/2019 9:40 AM, Adrien Monteleone wrote:
No objection here —I always thought it odd that Liabilities didn’t have its own
total line, and thought ’Transfers’ should only include Assets & Equity. (you
are transferring one asset to another, with no effect on net position, but paying a
liability would change your net position)
Assets and Equity are NOT "both assets" << this is confusing a
different meaning of equity>>
A transfer between "assets" and "liabilities"does NOT change net
position (ie: equity). A transfer from assets to liabilities that is
"paying a liability" is a debit to a liability (reducing it) and a
credit to an asset (reducing it) so no net change as the debit and
credit will be equal. Taking on more debt, a debit to an asset and a
credit to a liability also does not change net position (equity)
What sort of transaction would be a transfer between an asset and
equity? Why do you think that this would not be a change to your net
position?
Michael D Novack
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