Accounting Equation Assets = Liabilities + Equity
It also indicates the creditors provided $7,000 and the owner of the company provided $10,200. The totals also reveal that the company had assets of $17,200 and the creditors had a claim of $7,000. The totals now indicate that Accounting Software Co. has assets of $16,300. Accounting Equation for a Sole Proprietorship: Transactions 5-6 Alternatively, […]
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