Effect of business transaction on accounting equation

Assignment Help Accounting Basics

Reference no: EM13115959

For each of the following items, give an example of a business transaction that has the described effect on the accounting equation:

Increase an asset and increase a liability.

Increase one asset and decrease another asset.

Decrease an asset and decrease owner's equity.

Decrease an asset and decrease a liability.

Increase an asset and increase owner's equity.

Reference no: EM13115959

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