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Which one of the following represents the expanded basic accounting equation? Assets = Liabilities + Owner's Capital + %3D Owner's Drawings Revenue - Expenses. Assets + Owner's Drawings + Expenses = Liabilities + Owner's Capital + Revenues.

Which one of the following represents the expanded basic accounting equation? Assets = Liabilities + Owner's Capital + %3D Owner's Drawings Revenue - Expenses. Assets + Owner's Drawings + Expenses = Liabilities + Owner's Capital + Revenues.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which one of the following represents the expanded basic accounting equation? Assets = Liabilities + Owner's Capital + Owner's Drawings Revenue - Expenses. Assets + Owner's Drawings + Expenses = Liabilities + Owner's Capital + Revenues. Assets - Liabilities - Owner's Drawings = Owner's Capital + Revenues - Expenses. Assets = Revenues + Expenses - Liabilities.
Transcribed Image Text:Which one of the following represents the expanded basic accounting equation? Assets = Liabilities + Owner's Capital + Owner's Drawings Revenue - Expenses. Assets + Owner's Drawings + Expenses = Liabilities + Owner's Capital + Revenues. Assets - Liabilities - Owner's Drawings = Owner's Capital + Revenues - Expenses. Assets = Revenues + Expenses - Liabilities.
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