会计英语第四版第一章祥解.pptVIP

The accounting equation Business transactions always affect at least two elements in the accounting equation. The accounting equation is: Assets = Liabilities + Owner’s equity After a transaction is recorded, the accounting equation must be in balance. * * Using the accounting equation (1)Recording (2)Reporting (Basic Steps of Accounting Processing) Example * An example! On May 1, 2001, Jill Jones deposited $8,000 in the bank to officially start JJ’s Lawn Care Service. The Effects of Business Transactions The Effects of Business Transactions On May 2, 2001, JJ’s purchased a riding