The Accounting Equation—All Accounts—Net Effects

This assignment is an opportunity for you to practice evaluating how basic transactions affect the accounting equation. In this assignment you will indicate the impact of the example transactions on the components of the accounting equation (Assets, Liabilities, and Owner's Equity) but not on the individual accounts within those categories (e.g., Cash, Accounts Payable, etc.). This assignment includes transactions that affect both balance sheet and income statement accounts. Different assignments will give you practice evaluating how changes in income statement accounts or balance sheet accounts individually affect the accounting equation.

Relevant Excel Functions