[GNC] Can someone tell me how A-L=Eq+(I-Ex) is correct?

[W. Neal Lewis]

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