aces_wild87
New member
transactions on assets liabilties and equity? theres just 2 that are really hard for me to understand:
Recognized that one months rent had expired and became an expense.
would that mean theres an increase and decrease in equity and no change in assets and liabilities?
Took an inventory of office supplies and determined that $20 had been used and became an expense
would that mean assets decrease and increase and no change in liabilites and equity?
Recognized that one months rent had expired and became an expense.
would that mean theres an increase and decrease in equity and no change in assets and liabilities?
Took an inventory of office supplies and determined that $20 had been used and became an expense
would that mean assets decrease and increase and no change in liabilites and equity?