Question
Note from Apples Consolidated Balance Sheets that the ACCOUNTING EQUATION is in balance. Think about your PERSONAL ACCOUNTING EQUATION the assets you own, the liabilities
Note from Apples Consolidated Balance Sheets that the ACCOUNTING EQUATION is in balance.
Think about your PERSONAL ACCOUNTING EQUATION the assets you own, the liabilities you owe, the revenues you earn, and the expenses you incur.
Discuss at least three (3) transactions you commonly enter into and what impact these transactions would have on your personal accounting equation? Example: You buy a pizza for dinner and pay with your debit card; that decreases your assets (cash / bank account balance) and decreases your personal equity (by increasing food expense).
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Fundamental Accounting Principles
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
20th Edition
1259157148, 78110874, 9780077616212, 978-1259157141, 77616219, 978-0078110870
