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  • CHP 2 Accounting Equation and The Balance Sheet

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    ckyn greenleaf
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    Chp 2 Accounting Equation and the Balance Sheet

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    Notes

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
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    1K views6 pages

    CHP 2 Accounting Equation and The Balance Sheet

    Uploaded by

    ckyn greenleaf
    Notes

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 6

    Accounting Equation

    and the Balance Sheet


    Chapter 2

    NurulAsyikin/UTM/FA1/Notes/Chp2 1
    Accounting Equation
    Assets = Liabilities + Equity

    Liabilities
    Assets & Equity

    NurulAsyikin/UTM/FA1/Notes/Chp2 2
    Assets
    Cash

    Debtors Bank
    Resources
    owned or
    Vehicles controlled
    by a Land
    company
    Buildings
    Stock
    Equipment
    NurulAsyikin/UTM/FA1/Notes/Chp2 3
    Liabilities

    Creditors Loan

    Creditors’
    claims on
    assets
    Accrued
    Expenses

    NurulAsyikin/UTM/FA1/Notes/Chp2 4
    Equity
    Owner Drawings
    Investments

    Owner’s
    claims
    on
    assets

    Revenues Expenses

    NurulAsyikin/UTM/FA1/Notes/Chp2 5
    Transaction Analysis
    Equation
    The accounting equation must remain in
    balance after each transaction.

    Assets = Liabilities + Equity

    Let see the impacts on


    balance sheet

    NurulAsyikin/UTM/FA1/Notes/Chp2 6

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