Practice using the main equation of accounting
In this exercise, you'll compute a company's total liabilities using the main accounting equation you've mastered. To do this, you will first have to compute total assets.
accounts_receivable, inventory, long_term_investments and property_plant_equipment are already loaded for you.
You will identify which items of the balance sheet provided are current or non-current assets, compute total assets, and then use the main accounting equation to compute total liabilities.
This exercise is part of the course
Analyzing Financial Statements in Python
Exercise instructions
- Add up total current assets.
- Add up total non-current assets.
- Compute total assets.
- Compute total liabilities.
Hands-on interactive exercise
Have a go at this exercise by completing this sample code.
accounts_receivable = 1356
long_term_investments = 7892
property_plant_equipment = 9840
inventory = 5420
shareholders_equity = 8000
# Add up total current assets
total_current_assets = ____
# Add up total non-current assets
total_non_current_assets = ____
# Compute total assets
total_assets = ___
# Compute total liabilities
total_liabilities = ____