Explain why the rules of debit and credit are the same for liability accounts and owner's equity
Question:
Explain why the rules of debit and credit are the same for liability accounts and owner's equity accounts.
LO5
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Answered By
Nicole omwa
Being a highly skilled tutor with at least 5 years of tutoring experience in different areas, I learned how to help diverse learners in writing drafts of research papers, actual research papers and locate credible sources. My assurance is built upon my varied knowledge of a variety of subjects. Furthermore, my involvement and interaction with numerous learners of all levels has allowed me to understand my clients' specific demands. Ultimately, this has aided me in being a better coach to learners to better their grades. Essentially, my responsibilities as a tutor would include:
Teaching abilities that assist pupils in enhancing their academic performance
Personal interaction with learners to make them understand abstract concepts
Inducing new skills and knowledge into their academic journeys
Fostering individual reflection, and independent and critical thinking
Editing and proofreading
Because I am constantly available to respond to your queries, you may decide to rely on me whenever you require my assistance. As an assurance, my knowledge skills and expertise enable me to quickly assist learners with different academic challenges in areas with difficulty in understanding. Ultimately, I believe that I am a reliable tutor concerned about my learner's needs and interests to solve their urgent projects. My purpose is always to assist them in comprehending abstract schoolwork and mastering their subjects. I also understand that plagiarism is a severe offense and has serious ramifications. Owing to this, I always make it a point to educate learners on the numerous strategies to have uniquely unique solutions. I am familiar with the following formatting styles:
MLA
APA
Harvard
Chicago
IEEE
Communication is always the key in every interaction with my learners. Hence, I provide timely communication about the progress of assigned projects. As a result, I make sure that I maintain excellent communication with all of my clients. I can engage with all of my customers more effectively, assisting them with their unique academic demands. Furthermore, I attempt to establish a solid working relationship with my leaners I have exceptional abilities in the below areas;
Sociology
History
Nursing
Psychology
Literature
Health and Medicine
Chemistry
Biology
Management
Marketing
Business
Earth Science
Environmental Studies
Education
Being a teacher who aces in diverse fields, I provide various academic tasks, which include;
Academic Reports
Movie Reviews
Literature Reviews
Annotated bibliographies
Lab reports
Discussion posts
Dissertations
Case study analyses
Research proposals
Argumentative Essays
I guarantee you high-quality Papers!!!!!
5.00+
17+ Reviews
32+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
I need to answer these 3 questions for my accounting class. Your reference file/Chapter is attached as PDF. You basically have to look at the PDF and answer the following questions....
-
Resources: Financial Accounting: Tools for Business Decision Making Write a minimum 150-word response to each of the following scenarios from Exercise E3-1 in Financial Accounting (p. 132) describing...
-
Explain why the rules of debit and credit are the same for liability accounts and owners equity accounts.
-
The Kroger Company reported the following data in its annual report (in millions). Instructions a. Compute Kroger?s inventory turnovers for fiscal years ending January 28, 2017, and January 30, 2016,...
-
What is liquidity? How is it measured?
-
Explain why net operating working capital is included in a capital budgeting analysis and how it is recovered at the end of a projects life. AppendixLO1
-
On 31 December 1992, the cash book of Chung's Restaurant showed a bank overdraft of 1729.85. On comparing the cash book with the bank passbook, the following discrepancies were noted: (a) Cheques...
-
Horton Manufacturing Inc. produces blinds and other window treatments for residential homes and offices. The owner is concerned about the maintenance costs for the production machinery, as...
-
In a the firm preregisters with the SEC any securities it wishes to sell over the next two years. Multiple Choice rights full underwritten general cash shelf registration best efforts
-
What is the effect (increase or decrease) of a debit to an expense account (a) in terms of owner's equity and (b) in terms of expense? LO5
-
Do the terms debit and credit signify increase or decrease or can they signify either? Explain. LO5
-
Income versus Cash Flow. Explain why accounting revenue generally will differ from a firms cash inflows.
-
A storeroom is used to organize items stored in it on N shelves. Shelves are numbered from 0 to N-1. The K-th shelf is dedicated to items of only one type, denoted by a positive integer A[K]....
-
CASES CASE 10.1 Money in Motion Jake Nguyen runs a nervous hand through his once finely combed hair. He loosens his once perfectly knotted silk tie. And he rubs his sweaty hands across his once...
-
(3.8) Axiom, Definition of false false = true (3.9) Axiom, Distributivity of over : (pq) p=q
-
The board of directors of Unilever has been impressed by the presentation you did, and they further instructed you to conduct a more insightful investigation about the Sri Lankan market. They have...
-
The sample space listing the eight simple events that are possible when a couple has three children is {bbb, bbg, bgb, ogg, gbb, gbg, ggb, ggg}. After identifying the sample space for a couple having...
-
Find the shortest route from node 1 to node 7 in the networkshown. 5 4
-
A spacecraft has left the earth and is moving toward Mars. An observer on the earth finds that, relative to measurements made when the spacecraft was at rest, its a. length is shorter b. KE is less...
-
A timeline of cash flows is important here. And that timeline isn't significantly different from other timelines we have looked at, except for a bunch of 0 cash flows. Summarizing, the angel investor...
-
can you do it on nike with the most current data from 2 0 2 3
-
You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company...
Study smarter with the SolutionInn App