These principles serve as the guidelines that govern how accountants measure, process, and communicate financial information. Financial Accounting Standards Board Principles Generally Accepted Accounting Principles Financial Accounting Principles Business and Industrial Principles The concept of double-entry accounting is based on the principle that in every business every transaction is recorded in at least two accounts. These transactions are recorded as either a: profit or loss. credit or debit revenue or expense. asset or liability A company's capital structure consists of the debt and equity it uses to finance operations and growth refers to the debt portion of capital and is usually expressed as total debt divided by owners' equity. Liquidity Cost of Goods Sold EBIDTA Leverage Good Land Restaurants is a recent start-up company who is experiencing rapid growth. Last year, the firm generated profits of $4,800,000 and intends to use these profits to purchase an additional commercial property for the creation of new restaurants. What accounts on the Balance Sheet will reflect these changes? Retained earnings and fixed asset accounts Accounts payable and accounts receivable accounts Retained earnings and accounts receivable accounts Long term liabilities and fixed asset accounts