acoounts receivable and capital
The debits in the accounting equation increase the amount that appears on the left side. The credits in the accounting equation do the opposite and increase any amount that appears on the right side.
cash assets increase Equity increases as sales revenue increases and net income increases. No effect on Liabilities and Expenses
Debit Withdraw account and Credit Cash
assets decrease; liabilities decrease
The Accounting Equation is Assets=Liabilities + Owner's Equity?
The debits in the accounting equation increase the amount that appears on the left side. The credits in the accounting equation do the opposite and increase any amount that appears on the right side.
cash assets increase Equity increases as sales revenue increases and net income increases. No effect on Liabilities and Expenses
Debit Withdraw account and Credit Cash
assets decrease; liabilities decrease
The Accounting Equation is Assets=Liabilities + Owner's Equity?
Debit Cash Received Credit Income/Sales
asset increased, liability increased
by sale on account you mean goods sold to the costumer but the cash was not received immediately. the accounting equation for credit sales is to CR the revenue/sales/turnover in your income statement. DR the receivables account on the balance sheet. after the cash is received. CR the receivables account. DR the cash account.
you did the mathh wrong and must re-do it
The accounting equation is as follows: Assets = Liabilities + Stockholder's Equity
The fundamental accounting equation: Assets = Liabilities + Equity, is the basis for all financial accounting measurements.
The accounting equation displays the relationship between capital, liabilities and the assets. The accounting equation shows that the assets are a sum of the liabilities and the invested capital.