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Pavel [41]
2 years ago
11

Accounting equation table with assets and owners equity​

Law
1 answer:
EleoNora [17]2 years ago
5 0

Answer:

The accounting equation is a basic principle of accounting and a fundamental element of the balance sheet. The equation is as follows:

Assets = Liabilities + Shareholder’s Equity

This equation sets the foundation of double-entry accounting and highlights the structure of the balance sheet. Double-entry accounting is a system where every transaction affects both sides of the accounting equation. For every change to an asset account, there must be an equal change to a related liability or shareholder’s equity account. It is important to keep the accounting equation in mind when performing journal entries.

The balance sheet is broken down into three major sections and their various underlying items: Assets, Liabilities, and Shareholder’s Equity.

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3 years ago
What is the difference between a Bursary and a Student loan​
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6 0
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Should a police chief be permitted to promote an officer with special skills to a supervisory position, or should all officers b
zloy xaker [14]

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8 0
3 years ago
NOBODY <br>-----------------<br> LAW<br>can you guess the word
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Which philosopher’s work was the basis for the classical theory of criminology? A. Thomas Hobbes B. Peter Annet C. William Blake
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