Liz,
Thank you.
I've received much help and am learning what is needed.
Best regards,
Neal Lewis
P.S. The book that was recommended: "Accounting All-In-One for Dummies"
is on its way to me, purchased yesterday from Amazon. I am thankful for
that suggestion, because I did not know what to
On Wed, 31 Aug 2022 21:08:35 -0500
"W. Neal Lewis" wrote:
> David,
>
> That's where this all started.
>
> It didn't make sense so I thought I would ask people who were more
> knowledgeable.
>
> I did look on line and nothing on line made any more sense.
>
> So, thank you for your help.
>
>
Stan,
Correction made.
Tehachapi Loop is one of the great Civil Engineering feats of this world
and well worth coming to see.
Thanks for building the observation platform. You have the thanks of a
great many people.
Best regards,
Neal Lewis
On 8/31/22 1:42 PM, Stan Brown wrote:
Sure
Thank you Dean.
I liked the resources you suggested. I plan to buy the book on Amazon
tomorrow.
The web page mentioned by David T was where it all started for me, since
that did not make sense. So I did do research and got even more confused.
So, having a copy of Gnucash on my computer,
Michael,
Thank you. Those ideas are another thing that I'm getting my head around.
Best regards,
Neal Lewis
On 8/31/22 10:44 AM, Michael or Penny Novack wrote:
On 8/31/2022 4:08 AM, Gyle McCollam wrote:
That is an "L" not an "I" in the equation at the end of my email:
"A=I (+/-) Eq" to get
ubject: 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
Sent: Tuesday, August 30, 2022 9:24 PM
To: Gyle McCollam
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 num
I'm surprised that people don't buy ($$$) a book (see below) that gives
them a good introduction to accounting, or even find a good tutorial
online (no $$$), & instead go to a mailing list intended for the support
of free (no $$$) SOFTWARE (not accounting), & then expect other people
to teach
On 8/31/2022 4:08 AM, Gyle McCollam wrote:
That is an "L" not an "I" in the equation at the end of my email: "A=I (+/-)
Eq" to get it to equal.
There are only three FUNDAMENTAL account types, asset, liability, and
equity. The confusion about the equation is perhaps because our computer
>
>Gyle McCollam
>
>gmccol...@live.com<mailto:gmccol...@gyleshomes.com> email
>
>
>From: gnucash-user
><mailto:gnucash-user-bounces+gylemc=gmail@gnucash.org>
> on behalf of W. Neal Lewis
><mailto:wnle...@sou
sh-user on
behalf of Gyle McCollam
Sent: Wednesday, August 31, 2022 3:15 AM
To: W. Neal Lewis
Cc: 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
...@gnucash.org>
on behalf of W. Neal Lewis
<mailto:wnle...@southwind.net>
Sent: Sunday, August 28, 2022 6:38 PM
To: gnucash-user@gnucash.org<mailto:gnucash-user@gnucash.org>
<mailto:gnucash-user@gnucash.org>
Subject: [GNC] Can someone tell me how A-L=Eq+(I-Ex) is correct?
I w
Stan
To be a little bit pedantic, most accounting textbooks will give the accounting
equation
as
Assets = Liabilities + Equity
and the extended equation for temporary accounts
as
Assets= liabilities + Equity + (Income -Expenses).
The reason for putting it in this form is that the accounts on
I agree with what Michael or Penny wrote, but I'm going to post anyway
because seeing it described in slightly different ways may be helpful
for the original questioner.
On 2022-08-28 15:38, W. Neal Lewis wrote:
> However, although (A+L)=Eq, (A+L)≠Eq+(I+Ex). I have added a term to the
> right
On 8/28/2022 6:38 PM, W. Neal Lewis wrote:
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,
When you are trying to extend the over-simplified formula you need to add
terms for income expense and retained income to name a few. I do not know
the name of a good reference to help you.
On Sun, Aug 28, 2022 at 5:39 PM W. Neal Lewis wrote:
> I will agree that by mathematical logic,
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
17 matches
Mail list logo
