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Horngren's Financial & Managerial ...

5th Edition
Tracie L. Miller-Nobles + 2 others
ISBN: 9780134078939

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Section
BuyFindarrow_forward

Horngren's Financial & Managerial ...

5th Edition
Tracie L. Miller-Nobles + 2 others
ISBN: 9780134078939
To determine

Transaction: The economic events which bring about any changes in the financial items of a business and can be measured in the monetary units is referred to as a transaction

Accounting equation: Accounting equation is an accounting tool expressed in the form of equation, by creating a relation between resources or assets of a company and claims of resources to creditors and owners. Accounting equation is expressed as shown below:

Assets = Liabilities + Equity

To give: Examples of a business transaction for the given effects of transaction on accounting equation

Explanation

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