Is it possible for an accounting transaction to only affect the left side of the accounting equation

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Is it possible for an accounting transaction to only affect the left side of the accounting equation and still leave the equation in balance? If so, provide an example.

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Financial Accounting For Undergraduates

ISBN: 9781618533081

4th Edition

Authors: Wallace

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Question Posted: May 15, 2024 08:01 AM

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Is it possible for an accounting transaction to only affect the left side of the accounting equation

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Nounder normal circumstancesan accounting transaction cannot only affect the left side assets of the accounting equationThe core principle of accounting is based on the doubleentry bookkeeping systemw...View the full answer

Financial Accounting For Undergraduates

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