This looks like a useful resource if you want to read up on the accounting equation: http://www.quickmba.com/accounting/fin/equation/
On Apr 30, 7:27 pm, Wei-Wei Guo <[email protected]> wrote: > Dear all, > > I have a question that confusing me for a long time. My friend told me that > Assets should > always equal to Liabilities plus Equity. Since she is in a career finance, I > think she is > right. But recoding like the following will broke the principle of > "Assets=Liabilities+Equity". > > 2009/04/30 CCB > Expenses:School Card ¥100.00 > Expenses:Cash ¥900.00 > Expenses:Annual Fee:CCB ¥10.00 > Assets:Savings:CCB > > Is Ledger using a principle other than the one that the main stream is using? > Or I'm > doing anything wrong? > > Best wishes, > Wei-Wei
