On a balance sheet,total assets must always equal the sum of liabilities and owners' equity.

Balance Sheet

A statement presenting a company’s financial standing, including details on assets, liabilities, and equity held by shareholders, at a particular point in time.

Total Assets

Total assets represent the sum of all resources owned by a company, valued in monetary terms, and listed on its balance sheet, including both current and non-current assets.

Liabilities

Financial obligations that a company owes to outside parties, including loans, accounts payable, mortgages, and other debts.