What transactions increase or decrease owner equity

Assignment Help Accounting Basics

Reference no: EM132187083

Question: By the due date assigned, respond to the following in the Discussion Area below:

The accounting equation is assets = liabilities + owner's equity.

Please explain the relationship between economic resources and claims to economic resources.

• Why must this equation always balance?

• What transactions increase or decrease owner's equity?

• How does net income or loss affect owner's equity?

• Provide an example of a transaction, applied to the accounting equation.

Be sure to cite any sources using APA style. Use Amazon,Apple, or cannabis industry

Reference no: EM132187083

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