Financial Accounting

Learn the toughest concepts covered in your Financial Accounting class with step-by-step video tutorials and practice problems.

Introduction to Accounting

Fundamental Accounting Equation

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Fundamental Accounting Equation

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example

Fundamental Accounting Equation

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Problem

A company has assets totaling $50,000 and equity of $20,000. What are their liabilities?

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Problem

A company has liabilities of $25,000 and assets of $35,000. What is the company’s equity?

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Problem

If a company has liabilities of $65,000 and equity of $25,000, what are the company’s assets worth?