As we already mentioned, the balance sheet is called the balance sheet because the accounting equation will always balance… meaning the assets side of the balance sheet will always equal the same as the liabilities + owners’ equity. There is also a big difference in the format of the balance sheet versus the income statement.
Accounting I Cheat Sheet from [deleted]. ... 5 Ways Cheatography Benefits Your BusinessCheatography Cheat Sheets are a great timesaver for individuals - coders, gardeners, musicians, everybody!
Study Flashcards On Final Exam Study Guide Accounting 101 at Cram.com. Quickly memorize the terms, phrases and much more. Cram.com makes it easy to get the grade you want!