Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 3 - The Accounting Information System - Questions: 2

Answer

Yes! There can be a traction in the business that affects only the left side of the basic accounting equation.

Work Step by Step

The example of such transaction is: - purchased office equipment for $5,000: Assets = Liabilities + Stockholder's equity Cash Office equipment -$5,000 +$5,000.
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