Build the Balance Sheet

The giant statement problem from accounting exams. Put every account in the right section, then check. New numbers every round.

Asset = something the company owns that will help it later (cash, stuff, money owed to it).

Liability = something the company owes someone else.

Equity = what's left for the owners: Assets − Liabilities.

Current = used up or paid within 1 year. Long-term = longer than 1 year.

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