Total Liabilities & Equity entry in default Balance Sheet report

Uttam Chakravorty uttam at uc4linux.co.uk
Fri May 12 19:02:42 EDT 2017


Thank you for your help.  I will wait for the penny to drop.  I do not wish to wait to thank you until that happens!

Best regards, Uttam



 From:   Adrien Monteleone <adrien.monteleone at gmail.com> 
 To:   <gnucash-user at gnucash.org> 
 Sent:   10/05/2017 1:02 AM 
 Subject:   Re: Total Liabilities & Equity entry in default Balance Sheet report 

Uttam, 
 
The report is likely correct. 
 
Assets = Liabilities + Equity 
 
You are telling us that: 
 
37k = 121k 
 
That’s impossible. 
 
What you really have is this: 
 
Assets (37k) = Liabilities (79k) + Equity (-42k) 
 
or 
 
37k = 37k 
 
Which is a true statement and means your books are in balance. 
 
Regards, 
 
Adrien 
 
 
> On May 9, 2017, at 6:26 PM, Uttam Chakravorty <uttam at uc4linux.co.uk> wrote: 
>  
> Dear All I would appreciate some advice regarding the entry "Total Liabilities & Equity" at the bottom of the default Balance Sheet report. 
>  
> The situation I am dealing with is: 
> The business assets total 37k.It is in negative equity with losses brought forward of 42k.It's short and long term liabilities total another 79k.Therefore 'Total Liabilities & Equity' should surely be 121k, whereas the Balance Sheet reports 37k. 
>  
> I hope I have not missed something obvious and am wasting your time, therefore I offer in advance my thanks and apologies in equal part.  I am merely curious. 
>  
> Uttam 
>  
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