What is accounting, accounting equation?
Let’s learn what is accounting, accounting equation. The most accurate or helpful solution is served by Yahoo! Answers.
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each of this sub-question is for 4 marks..i am confused what to write plz solve it..and tell me what is accounting equation.... 1.purchased goods for rs.20,000 from Mahesh on credit. 2.sold goods to Suresh costing Rs.8,000 for Rs.10,000 in cash 3.paid...
Answer:
1.purchased goods for rs.20,000 from Mahesh on credit. Purchase Stock Dr. Rs.20,000 To Mahesh Rs 20...
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Other solutions
What are the effects on the accounting equation when a company makes the adjustment to record bad debt expense using the allowance method? A) Assets and owners' equity increase. B) Assets and owners' equity decrease. C) Assets increase and owners' equity...
Answer:
B Example..b/4 bad debt expense: Assets 100 Liabs: 25 Equity: 75 record bad debt allowance of 10......
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Please explain to me the philosophy behind the Accounting Equation?
Answer:
The philosophy behind double entry accounting is that for every debit (DR), there is a corresponding...
ZSCPMC3KZ5T2W34RWPBL2DTTSE at Yahoo! Answers Mark as irrelevant Undo
So I'm confused with a certain type of journal entry. Utility Expense is being Debited Cash is being Credited So since the expense is increasing due to debit, and the Cash is decreasing due to credit, wouldn't that journal entry be faulty since that...
Answer:
Debit utility expense $500 ____Credit cash _____$500 Total debits $500 Total Credits $500 Expense is...
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Can someone please help with this accounting question? The answer is option A, I just don't understand why. I also know that the accounting equation is Assets = Liabilities + Stockholder's Equity. Please explain to me how they get their result. The three...
Answer:
Assets = Liabilities + Stockholders' Equity Stockholders' Equity = Contributed Capital + Retained Earnings...
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what is the extended accounting equation?
Answer:
Yes. Basic accounting equation: Assets = Liabilities + Owner's equity Expanded/extended accounting equation...
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The accounting equation is: Assets = Liabilities + Equity How is this true? This equation doesn't include income. If all my assets came from capital contributions, then it would be true. But what happens if I sell something? Those sales transactions...
Answer:
Equity actually includes income (revenue) and expenses, not just capital contributions. An increase...
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I'm having a lot of trouble with this for my accounting class. The normal accounting equation is assets=liabilities + equity. So why can't owned-owed=leftovers be the accounting equation?
Answer:
What you say is correct, but if the 'leftovers' is minus ( loss) the equation will be owed - owned ...
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Hi, Question is : Assets = Liability+Equity. If you take a loan, obviously liabilities go up. If you spend that loan money on rent and salaries, there is no change to any item in the accounting equation. So, liabailties have gone up, no change occured...
Answer:
The trick here is to find your income so that you can end up with at least the same amount of equity...
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