MichaelT21 (Arkansas)
Posts: 462
Posts: 462
Posted:
The other thread about the balance sheet caused me to create my own post.
In our balance sheet, which we are sending out to all homeowners, there are two categories I do not understand:
The first is "current year earnings" which shows a massively negative number.
The second is "association equity" which is a huge positive number.
Combined, the +assoication equity added to the -current year earnings just happens to equal exactly the current assets.
I've attached our current balance sheet. Any explanations would be helpful.
In our balance sheet, which we are sending out to all homeowners, there are two categories I do not understand:
The first is "current year earnings" which shows a massively negative number.
The second is "association equity" which is a huge positive number.
Combined, the +assoication equity added to the -current year earnings just happens to equal exactly the current assets.
I've attached our current balance sheet. Any explanations would be helpful.
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