In accounting it’s important to understand that there may be events that occur that are not business transactions that affects the accounting equation. Remember that the expand accounting equation is: Asset=Liabilities +owner’s Equity +Revenue-Expenses. Please be sure that you provide this transaction in general journal format. Additionally give us an example of an event that is not an accounting transaction .
In accounting it’s important to understand that there may be events that occur that are not business transactions that affects the accounting equation. Remember that the expand accounting equation is: Asset=Liabilities +owner’s Equity +Revenue-Expenses. Please be sure that you provide this transaction in general journal format. Additionally give us an example of an event that is not an accounting transaction .
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In accounting it’s important to understand that there may be events that occur that are not business transactions that affects the accounting equation . Remember that the expand accounting equation is:
Asset=Liabilities +owner’s Equity +Revenue-Expenses. Please be sure that you provide this transaction in general journal format. Additionally give us an example of an event that is not an accounting transaction .
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