That is an "L" not an "I" in the equation at the end of my email: "A=I (+/-) Eq" to get it to equal.
Thank You, Gyle McCollam Gyle McCollam gmccol...@live.com<mailto:gmccol...@gyleshomes.com> email ________________________________ From: gnucash-user <gnucash-user-bounces+gylemc=gmail....@gnucash.org> on behalf of Gyle McCollam <gmccol...@live.com> Sent: Wednesday, August 31, 2022 3:15 AM To: W. Neal Lewis <wnle...@southwind.net> Cc: gnucash-user@gnucash.org <gnucash-user@gnucash.org> Subject: Re: [GNC] Can someone tell me how A-L=Eq+(I-Ex) is correct? Neal, Your welcome. I see a few others have responded with similar thoughts and explanations. I'm sorry I forgot to respond to all, so the list did not see my original email, but as I said other replied with similar answers, but in more detail. Don't worry, I trust you will get there. I'm sure there are engineering concepts that we accountants would not understand immediately. The key to this is that at any point in time (Income - expenses = 🔺Equity). So if your income and expenses aren't zero (close Books at the end of the year), you have to add this expression to A=I (+/-) Eq to get it to equal. Thank You, Gyle McCollam Gyle McCollam gmccol...@live.com<mailto:gmccol...@gyleshomes.com> email ________________________________ From: W. Neal Lewis <wnle...@southwind.net> Sent: Tuesday, August 30, 2022 9:24 PM To: Gyle McCollam <gmccol...@live.com> Subject: Re: [GNC] Can someone tell me how A-L=Eq+(I-Ex) is correct? Gyle, Thank you for your reply. Let me think about it for a while. It does not yet make sense to my Engineering brain. Sorry to be so dense, but terms as well as numbers must balance for an equation to be correct. Best regards, Neal Lewis On 8/28/22 6:28 PM, Gyle McCollam wrote: At the end of the year I (income) - Ex (expenses) is your increase/decrease, depending on whether the number is positve or negative, to equity for the year and at any given point during the year it is your increase/decrease YTD equity figure. So realistically, when you added +(I-Ex) and it should be minus Ex, you haven't really changed the equation A=L+Eq. Thank You, Gyle McCollam Gyle McCollam gmccol...@live.com<mailto:gmccol...@gyleshomes.com> email ________________________________ From: gnucash-user <gnucash-user-bounces+gylemc=gmail....@gnucash.org><mailto:gnucash-user-bounces+gylemc=gmail....@gnucash.org> on behalf of W. Neal Lewis <wnle...@southwind.net><mailto:wnle...@southwind.net> Sent: Sunday, August 28, 2022 6:38 PM To: gnucash-user@gnucash.org<mailto:gnucash-user@gnucash.org> <gnucash-user@gnucash.org><mailto:gnucash-user@gnucash.org> Subject: [GNC] Can someone tell me how A-L=Eq+(I-Ex) is correct? I will agree that by mathematical logic, Assets-(Liabilities)=Equity. ∴ Assets+(Liabilites)-(Liabilities)=Equity+Liability, or stated more simply, A=Eq+L. I have added Liability to both sides ∴ both sides remain equal. However, although (A+L)=Eq, (A+L)≠Eq+(I+Ex). I have added a term to the right side that is most decidedly not on the left ∴ they cannot be equal. ∴ A and L must be terms that include other factors. Not good at accounting, I will ask what those other factors are. I want to use GnuCash but I am having trouble getting my mind to accept an equation that is not correct unless terms are redefined. Please help me with my (obviously) incorrect understandings. Thank you, Neal Lewis _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org<mailto:gnucash-user@gnucash.org> To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
