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  • Basic Accounting Equations: Debits Credits Assets Liabilities + Equity

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    Atul Keshri
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    The document outlines the basic accounting equations and how they expand to include additional elements. It starts with the basic equations that debits must equal credits and that assets must equal liabilities plus equity. It then shows how the equations expand to include common stock, retained earnings, beginning retained earnings, net income, revenues, expenses, and dividends. The final expanded equation shows the full accounting equation that total debits must equal total credits and lists out how to calculate the totals.

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    131 Chapter3

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    The document outlines the basic accounting equations and how they expand to include additional elements. It starts with the basic equations that debits must equal credits and that assets must equal liabilities plus equity. It then shows how the equations expand to include common stock, retained earnings, beginning retained earnings, net income, revenues, expenses, and dividends. The final expanded equation shows the full accounting equation that total debits must equal total credits and lists out how to calculate the totals.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as ppt, pdf, or txt
    18 views5 pages

    Basic Accounting Equations: Debits Credits Assets Liabilities + Equity

    Uploaded by

    Atul Keshri
    The document outlines the basic accounting equations and how they expand to include additional elements. It starts with the basic equations that debits must equal credits and that assets must equal liabilities plus equity. It then shows how the equations expand to include common stock, retained earnings, beginning retained earnings, net income, revenues, expenses, and dividends. The final expanded equation shows the full accounting equation that total debits must equal total credits and lists out how to calculate the totals.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as ppt, pdf, or txt
    of 5

    Basic Accounting Equations

    Debits = Credits

    Assets = Liabilities
    + Equity
    Expanding the Basic Accounting
    Equations

    Debits = Credits

    Assets = Liabilities
    + Common Stock
    + Retained
    Earnings
    Expanding the Basic Accounting
    Equations

    Debits = Credits
    Assets = Liabilities
    + Common Stock
    + Beg. R/E
    + Net income
    - Dividends
    Expanding the Basic Accounting
    Equations

    Debits = Credits
    Assets = Liabilities
    + Common Stock
    + Beg. R/E
    + Revenues
    - Expenses
    - Dividends
    Expanding the Basic Accounting
    Equations

    Debits = Credits

    Liabilities +
    Assets + Common stock +
    Expenses + Beginning R/E +
    Dividends = Revenues =

    Total Credits

    Total Debits =

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