Assets, Liabilities and Owners Equity?

M

Mr. X

New member
I'm having difficulties with these problem.

Assets = Liabilities + Owners Equity

Use cash to pay down Accounts Payable.


Cash - Asset
AP - Liabilities

A = L + OW
Decrease = Decrease + No Change??


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Sell Equipment for Cash

Cash - Asset
Equipment -Asset, Liabilities?

A = L + OW
Increase = Decrease + No Change??

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Provided Services for Cash

Cash - Asset
Services - Liabilities


A = L + OW
Increase = Increase + Increase??

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Is this correct?
 
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