As the equation Assets 5 Liabilities 1 Equity indicates, the rules for equity accounts are the same

Question:

As the equation Assets 5 Liabilities 1 Equity indicates, the rules for equity accounts are the same as those for liability accounts, that is:

Equity accounts increase on the [left / right] side.

Equity accounts decrease on the [left / right] side.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Essentials Of Accounting

ISBN: 9780273771463

11th International Edition

Authors: Leslie K. Breitner

Question Posted: