What is equity in accounting?

I am very new to Accounting and have to learn about it's basics, very quickly. So what are 'Assets' , 'Liabilities' and 'Owner's Equity' in Accounting? Please be simple in language as possible and provide an example if possible! Thnk u!

I am very new to Accounting and have to learn about it's basics, very quickly. So what are 'Assets' , 'Liabilities' and 'Owner's Equity' in Accounting? Please be simple in language as possible and provide an example if possible! Thnk u!

Our book says that its the residual interest in the assets of the enterprise after deducting all its liabilities. In simpler terms what do you mean by this?

I just learn't accounting at TAFE today, i just want to know why income is credit?, and expense is debit?. what point of view are we thinking here? and please explain. I already know i debit assets, and credit liability's. its equity the same as liability...

The statement of owner's equity: A. Reports how equity changes at a point in time. B. Reports how equity changes over a period of time. C. Reports on cash flows for operating, financing, and investing activities over a period of time. D. Reports on cash...

This is complicated to understand the accounting equation, but i still understood it, any easy one and a better site for my English level? http://www.accountingexplanation.com/accounting_equation.htm I knew the Assets - Liability = Equity and equity...

I cannot figure this out after many attempts. Help please! Justin Harris and Paul Berryhill started the HB partnership on January 1, 2012. The business acquired $42,240 cash from Harris and $89,760 from Berryhill. During 2012, the partnership earned...

The stockholders' equity section of Traylor Corporation's balance sheet at December 31 is presented here. TRAYLOR CORPORATION Balance Sheet (partial) Stockholder's equity Paid-in capital Preferred stock, cumulative, 10,500 shares authorized, 6,300 shares...