For other people named Bob Ross, see Bob Ross (disambiguation) . Robert Norman Bob Ross (October 29, 1942 â July 4, 1995) was an American painter, art instructor, and television host.
net equity net assets and deficit equity are all terms that may arise on a company s balance sheet this is a document that is prepared periodically and is used for accounting purposes it is also prepared for the benefit of stockholders or any entity that has a financial interest in the company such as a creditor
1 In a balance sheet, the total sum of assets must equal the sum of liabilities and owner's equity. 2  The asset accounts represent all the goods and resources that a company owns. 3  The liability portion represents all of its debts.4  The equity portion represents contributions by owners (shareholders) and past earnings. In a balance sheet, the total sum of assets must equal the sum of liabilities and owner's equity. 2  The asset accounts represent all the goods and resources that a company owns. 3  The liability portion represents all of its debts.