A
Assets
= things owned.
Includes
equipment; property and money owed
to the organization (Accounts
Receivable).
L
Liabilities = things owed
(mostly money).
Includes things like rent, loan repayment,
taxes, and wages owed. (Accounts
Payable)
OE
Owner's Equity = what is left
after
Liabilities
are subtracted from
Assets.
|
The
"Bottom-Line" may also describe
___
"Profit"
or
"Loss."
|
__________________________________________
