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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

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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 = ____
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