1. What are the affects on one side of the accounting equation? And how the balancing will work in one side of the equation? Explain on your own words and support it with real life example. 2. When will a transaction affect only one side of the accounting equation? Explain on your own words and support it with real life example. 3. The accounting equation is a basic beginning for the double entry system of recording transaction. Relate those two and support your own explanation with example. 4. Can accounting equation record every specific detailed actions and movements of the economic entity? Explain it by your own words. 5. When there was a wrong entry recording in double entry system how it going to be fixed? Explain your own words and it is optional if you provide an example