Expanded Accounting Equation

Assets = Liabilities + Owner’s Equity where: Liabilities = All current and long-term debts and obligations Owner’s Equity = Assets available to shareholders after all liabilities \begin{aligned} &\text{Assets} = \text{Liabilities} + \text{Owner's Equity}\\ &\textbf{where:}\\ &\text{Liabilities} = \text{All current and long-term debts} \\ &\text{and obligations}\\ &\text{Owner's Equity} = \text{Assets available to shareholders} \\ &\text{after all liabilities}\\ \end{aligned} Assets=Liabilities+Owner’s Equitywhere:Liabilities=All current and long-term debtsand obligationsOwner’s Equity=Assets available to shareholdersafter all liabilities

Assets = Liabilities + CC + BRE + R − E − D where: CC = Contributed Capital, capital provided by the original stockholders (also known as Paid-In Capital) BRE = Beginning Retained Earnings, earnings not distributed to stockholders from the previous period R = Revenue, what’s generated from the ongoing operation of the company E = Expenses, costs incurred to run operations of the business D = Dividends, earnings distributed to the stockholders of the company \begin{aligned}&\text{Assets} = \text{Liabilities} + \text{CC} + \text{BRE} + \text{R} - \text{E} - \text{D} \\&\textbf{where:}\\&\text{CC} = \text{Contributed Capital, capital provided by} \\&\text{the original stockholders (also known as Paid-In Capital)} \\&\text{BRE} = \text{Beginning Retained Earnings, earnings not} \\&\text{distributed to stockholders from the previous period} \\&\text{R} = \text{Revenue, what's generated from the ongoing} \\&\text{operation of the company} \\&\text{E} = \text{Expenses, costs incurred to run operations of} \\&\text{the business} \\&\text{D} = \text{Dividends, earnings distributed to the stockholders} \\&\text{of the company}\end{aligned} Assets=Liabilities+CC+BRE+R−E−Dwhere:CC=Contributed Capital, capital provided bythe original stockholders (also known as Paid-In Capital)BRE=Beginning Retained Earnings, earnings notdistributed to stockholders from the previous periodR=Revenue, what’s generated from the ongoingoperation of the companyE=Expenses, costs incurred to run operations ofthe businessD=Dividends, earnings distributed to the stockholdersof the company

Some terminology may vary depending on the type of entity structure. "Members' capital" and "owners' capital" are commonly used for partnerships and sole proprietorships, respectively, while "distributions" and "withdrawals" are substitute nomenclature for "dividends."

Let's look at an actual historical example. Below is a portion of Exxon Mobil Corporation's (XOM) balance sheet as of September 30, 2018. 

The accounting equation whereby Assets = Liabilities + Shareholders' equity is calculated as follows:

XOM Balance Sheet.