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    Assests Liability Draw Equity Expenses Revenue: Debit Credit

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    Wilmae Grace Provido
    This document outlines the basic accounting equation and categories for a small business. It shows that assets are equal to liabilities plus equity, and lists examples of line items that would be included in assets like cash, accounts receivable, and inventory, as well as expenses, equity, and sources of revenue.

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    © All Rights Reserved
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    Assests Liability Draw Equity Expenses Revenue: Debit Credit

    Uploaded by

    Wilmae Grace Provido
    16 views1 page
    This document outlines the basic accounting equation and categories for a small business. It shows that assets are equal to liabilities plus equity, and lists examples of line items that would be included in assets like cash, accounts receivable, and inventory, as well as expenses, equity, and sources of revenue.

    Original Description:

    Accounting Simplified

    Original Title

    Accounting

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    This document outlines the basic accounting equation and categories for a small business. It shows that assets are equal to liabilities plus equity, and lists examples of line items that would be included in assets like cash, accounts receivable, and inventory, as well as expenses, equity, and sources of revenue.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    16 views1 page

    Assests Liability Draw Equity Expenses Revenue: Debit Credit

    Uploaded by

    Wilmae Grace Provido
    This document outlines the basic accounting equation and categories for a small business. It shows that assets are equal to liabilities plus equity, and lists examples of line items that would be included in assets like cash, accounts receivable, and inventory, as well as expenses, equity, and sources of revenue.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    DEBIT CREDIT

    Assests Liability
    Draw Equity
    Expenses Revenue

    Assets:

    - Cash
    - Accounts Receivable
    - Inventory
    - Equipments
    - Building

    Draw:

    - Distribution

    Expenses:

    - Rent
    - Utilities
    - Telephone/Internet

    Equity:

    - Owner’s Equity
    - What you have in the business

    Revenue

    - Sales
    - Service
    - Income Statement

    Assets = Liabilities + Equity

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