会计专业英语课件

有趣的翻译PrimeMinister总理ChiefTranslator首席翻译有趣的翻译PrimeMinisterChiefTrans有趣的翻译1、“亦余心之所善兮，虽九死其犹未悔。”FortheidealthatIholddeartomyheart,I'dnotregretathousandtimestodie.有趣的翻译1、“亦余心之所善兮，虽九死其犹未悔。”有趣的翻译2、“人或加讪，心无疵兮。”Myconsciencestaysuntaintedinspiteofrumorsandslandersfromtheoutside.有趣的翻译2、“人或加讪，心无疵兮。”有趣的翻译3、“兄弟虽有小忿，不废懿亲。”Differencesbetweenbrotherscannotsevertheirbloodties.有趣的翻译3、“兄弟虽有小忿，不废懿亲。”

Unit2

RecordingBusinessTransaction企业交易记录2.0AccountingTheory2.1TypesofBusinessEntities2.2TheAccountingEquation2.3DoubleEntryBookkeeping

Unit2

RecordingBusinessTrLearning

ObjectivesAfterfinishingthisunit,youshouldbeableto:UnderstandtheaccountingtheoryDescribethetypesofbusinessentitiesUnderstandtheaccountingequationUnderstandthedouble-entrybookkeepingLearningObjectivesAfterfinisAccountingTheoryAccountingtheorymainlycovers:AccountingAssumptionTheElementsofFinancialStatementsAccountingMeasurementAccountingTheoryAccountingthAccountingAssumptionAccountingassumptionsinclude:TheaccountingentityassumptionTheperiodicityassumptionThegoingconcernassumptionThemonetaryassumptionAccountingAssumptionAccountinAccountingAssumptionTheaccountingentityassumptionAnenterpriseshallrecognize,measureandreporttransactionsoreventsthattheenterpriseitselfhaveoccurred.AccountingAssumptionTheaccouAccountingAssumptionTheperiodicityassumptionAnenterpriseshallclosetheaccountsandpreparefinancialreportsforeachseparateaccountingperiod.

AccountingAssumptionTheperioAccountingAssumptionThegoingconcernassumptionInperformingrecognition,measurementandreportingforaccountingpurposes,anenterpriseshallbeassumedtobeagoingconcern.AccountingAssumptionThegoingAccountingAssumptionThemonetaryassumption

Accountingmeasurementshallbebasedonunitofcurrency.AccountingAssumptionThemonetTheElementsofFinancialStatementThebasicelementsinclude:AssetsLiabilitiesShareholders’Equity(orNetAssets)RevenuesExpensesProfitTheElementsofFinancialStatTheElementsofFinancialStatementAssetsCurrentAssetsPrepaymentsAccountsReceivableInterestsReceivableNotesReceivableOtherReceivablesRawMaterialsFinishedGoodsLowValueConsumables

Non-currentAssetsFixedAssetsLong-termReceivablesIntangibleAssetsGoodwillTheElementsofFinancialStatTheElementsofFinancialStatementLiabilitiesCurrentLiabilitiesShort-termBorrowingsAccountsPayableEmployeeBenefitsPayableTaxesandFeesPayableNotesPayableAdvancesfromCustomers

Non-currentLiabilitiesLong-termBorrowingsBondsPayableTheElementsofFinancialStatDifferenceBetweenLiabilityandDebtLiabilityLiabilities是liability的复数形式。它的意思是法律上的责任、义务。如liabilityforanaccident（肇事的责任）；liabilitytopaytaxes（纳税的义务）。只有其为复数形式liabilities时才表示负债、债务的意思。例如：负债是指将来需用货币或服务偿还的债务或履行的义务还有就是欠外部的数额，如应付票据、应付帐款、应付债券。DifferenceBetweenLiabilityaExercisesExercisesaboutliabilityandliabilitiesHeadmittedhis______fortheaccident.Heavy_____forcedthecompanyintobankruptcy.ExercisesExercisesaboutliabiDifferenceBetweenLiabilityandDebtDebtDebt指的是向外部借入实际上的金额而形成的债务。比如向银行或者其他企业借了一笔钱，需要在以后以一定的金额进行偿还。和liabilities相比，debt从属于liabilities。

DifferenceBetweenLiabilityaExercisesExercisesaboutdebtandliabilitiesThe_____heborrowedfromthelocalbankisabouttobepaidoff.Thestatusof______ofthiscompanyshowedthatitwasingreattrouble.ExercisesExercisesaboutdebtTheElementsofFinancialStatementShareholders’EquityPaid-inCapital(Sharecapital/CapitalStock)CapitalReservedSurplusReservedUndistributedProfitTheElementsofFinancialStatTheElementsofFinancialStatementRevenuesPrimeOperatingRevenuesOtherOperatingRevenuesNon-operatingRevenuesTheElementsofFinancialStatTheElementsofFinancialStatementProfitTotalProfitGrossProfitNetProfitTheElementsofFinancialStatAccountingMeasurementAccountingMeasurementHistoricalCostReplacementCostNetRealizableValue(NRV)PresentValue(PV)FairValue(FV)AccountingMeasurementAccountiTypesofBusinessEntitiesThreeformsofbusinessentities:TheProprietorshipOnlyhasasingleownerThePartnershipJoinstwoormoreindividualstogetherasco-ownerTheCorporationOwnedbyshareholdersTypesofBusinessEntitiesThreQuestions:DecidethetypesofthesethreebusinessentitiesQuestions:DecidethetypesofAccountingEquationsMostbasictooloftheaccountantAssets=Liabilities+EquityInabusinessenterprise,equityistheownershipinterestandiscalledowners'equityorshareholders’equityAccountingEquationsMostbasicAccountingEquationComputationI:SmallNumbers在口语中的小数目的加法，用and代表“+”号，is或are代表“=”号。7+8=157and8is/are15.AccountingEquationComputationAccountingEquationComputationI:SmallNumbers在口语中，小数目的减法形式是，减数+from+被减数+leave/is+余数。7-2=52from7leaves/is5.AccountingEquationComputationAccountingEquationComputationI:SmallNumbers在口语中，小数目的乘法，第二个数目用复数形式，“=”号用are表示。3*6=18Threesixesareeighteen.AccountingEquationComputationAccountingEquationComputationI:SmallNumbers在口语中，小数目的除法，除数+into+被除数+goes+余数，在此“=”用goes表示。8*2=42into8goes4.AccountingEquationComputationAccountingEquationComputation5+4=95-4=15*4=209/3=3

300+150=450215-75=14025*35=875999/3=333AccountingEquationComputationAccountingEquationComputationII:LargeNumbers在正式场合中或大数目，“+”号用plus（动词）表示，“=”号用is或equal表示。112+230=342112plus230is/equals342.AccountingEquationComputationAccountingEquationComputationII:LargeNumbers在正式场合中或大数目，“-”号用minus（动词）表示，“=”号用is或equal表示。250-120=130250minus120is/equals130.AccountingEquationComputationAccountingEquationComputationII:LargeNumbers在正式场合中或大数目，“*”号用times（动词）表示，“=”号用is或equal表示。120*20=2400120times20is/equals2400.AccountingEquationComputationAccountingEquationComputationII:LargeNumbers在正式场合中或大数目，“/”号用dividedby表示，“=”号用is或equal表示。360*120=3360dividedby120is/equals3.AccountingEquationComputationAccountingEquationHowtodescribetheeffectsoftransactionsontheaccountingequation?ThetypeoftransactionWhatthetransactiondidnotaffectTheequalityoftheequationAccountingEquationHowtodescAccountingEquationVocabularyincreasesth.by增加decreasesth.by减少involvevt.涉及到AccountingEquationVocabularyTheAccountingEquationAdentistinvested$10000cashinadentalpractice.Assets=Liabilities+Owners’equity+$10000+$10000Thistransactionisacapitaltransactionthatincreasesassetsandowners’equity.Thistransactioninvolvesnoliabilities.Theamountontheleftsideoftheequationequalstheamountontherightside.TheAccountingEquationAdentiTheAccountingEquationThedentalpracticepurchasedstationeriesonaccountatacostof$800.Assets=Liabilities+Owners’equity+$800+$800Thistransactionisanassetandliabilitytransactionthatincreasesbothassetsandliabilities.Thistransactioninvolvesnoowners’equity.Theamountontheleftsideoftheequationequalstheamountontherightside.TheAccountingEquationThedenTheAccountingEquationThedentisthadborrowed$10000fromthelocalbank,andnowthebankdecidedtotakethisdebtasinvestment.Assets=Liabilities+Owners’equity-$1000+$1000Thistransactionisaliabilityandequitytransactionthatdecreasestheliabilitieswhileincreasestheequitybythesameamount.Itdoesnotaffectanyassets.Notethatthesumsofthebalanceofeachsideisequal.TheAccountingEquationThedenTheAccountingEquationStationeriescosting$300wereused.Assets=Liabilities+Owners’equity-$300-$300

Thistransactionisanassetandequitytransactionthatdecreasesbothassetsandequitiesbythesameamount.Itinvolvesnoliabilities.Notethatthesumsofthebalanceofeachsideisequal.TheAccountingEquationStationTheAccountingEquationThedentalpracticepaid$600dueonanaccountwithasupplier.Assets=Liabilities+Owners’equity-$600-$600Thistransactionisanassetandliabilitytransactionthatdecreasesbothassetsandliabilities.Ithasnoeffectontheowners’equity.Notethatthesumsofthebalanceofeachsideisequal.TheAccountingEquationThedenTheAccountingEquationConclusiontotheequation:Theequalityofthisequationalwaysholdforeverytransaction.TheAccountingEquationConclusExercisesWhatistheeffectofthistransactionontheaccountingequation?Transaction1:

JohnSmithinvests$50,000tobeginthebusiness.Transaction2:JohnSmithpurchaseslandforafutureofficelocation,payingcashof$40,000.Transaction3:JohnSmithbuysstationery,agreeingtopay$500withinthirtydays.Transaction4:JohnSmithearns$5,500forprovidinglegalservicestohisclients.ExercisesWhatistheeffectofDouble-EntryBookkeepingFundamentalsofdouble-entrybookkeepingSymbolsofbookkeepingRulesofbookkeepingAccountsEntryDouble-EntryBookkeepingFundamDouble-EntryBookkeepingSymbolsofBookkeepingDebit(abbreviatedtoDr)Credit(abbreviatedtoCr)Double-EntryBookkeepingSymbolDouble-EntryBookkeepingRuleofbookkeepingEverytransactionaffectsatleasttwoaccounts.Wherethereisadebit,thereisacredit.Foreverytransaction,thetotaldebitsarealwaysequaltothetotalcredits.Double-EntryBookkeepingRuleoDouble-EntryBookkeepingAccountsAccountsisusedtoaccumulatetheeffectsoftransactionsandothereconomiceventsoneachfinancialstatementitem.Anaccount,in“T-account”form,appearsasbelow:

AccounttitleNo.DebitCredit

Double-EntryBookkeepingAccounRecordingBusinessTransactionsEntryChineseFormat借：会计科目

贷：会计科目EnglishFormatDr.AccountTitleCr.AccountTitleRecordingBusinessTransactionExamplesAdentistinvested$10000inadentalpractice.

CashPaid-inCapitalDebitCreditDebitCredit10,00010,000

Dr.Cash10,000Cr.Paid-inCapital10,000ExamplesAdentistinvested$10ExamplesThedentalpracticepurchasedstationeriesonaccountatacostof$800.ManagementExpensesAccountsPayableDebitCreditDebitCredit800800Dr.ManagementExpenses800Cr.AccountsPayable800ExamplesThedentalpracticepuExamplesDentalserviceswereperformedforpatientsonaccounts,$10000.AccountsReceivablePrimeOperationRevenuesDebitCreditDebitCredit10,00010,000Dr.AccountsReceivable10,000Cr.PrimeOperationRevenue10,000ExamplesDentalserviceswerepExamplesStationeriescosting$300wereused.ManagementExpensesLowValueConsumablesDebitCreditDebitCredit300300Dr.ManagementExpenses300Cr.LowValueConsumables300ExamplesStationeriescosting$ExamplesThepracticepaid$600onaccount.CashAccountsPayableDebitCreditDebitCredit600600Dr.AccountsPayable600Cr.Cash600ExamplesThepracticepaid$600ExamplesThedentisthadborrowed$100000fromthelocalbankandnowthebankdecidedtotakethisdebtasinvestment.Short-termBorrowingsPaid-inCapitalDebitCreditDebitCredit100,000100,000Dr.Short-termBorrowings100,000Cr.Paid-inCapital100,000ExamplesThedentisthadborrowExercisesOpenaccountsandrecordthetransactionsTransaction1:JohnSmithinvests$50,000tobeginthebusiness.Transaction2:JohnSmithpurchaseslandforafutureofficelocation,payingcashof$40,000.Transaction3:JohnSmithbuysstationeries,agreeingtopay$500withinthirtydays.Transaction4:JohnSmithearns$5,500forprovidinglegalservicestohisclients.ExercisesOpenaccountsandrecExercise(1)-a

CashPaid-inCapitalDebitCreditDebitCredit1,8001,800

Dr.Cash1,800Cr.Paid-inCapital1,800Exercise(1)-aExercise(1)-b

AccountsReceivablePrimeOperatingRevenuesDebitCreditDebitCredit650650

Dr.AccountsReceivable650

Cr.PrimeOperatingRevenues650Exercise(1)-bAccountsReceivExercise(1)-c

LowValueConsumablesAccountsPayableDebitCreditDebitCredit500500

Dr.LowValueConsumables500Cr.AccountsPayable500Exercise(1)-cExercise(1)-d

CashAccountsReceivableDebitCreditDebitCredit400400

Dr.Cash400Cr.AccountsReceivable400Exercise(1)-dExercise(1)-e

AccountsPayableCashDebitCreditDebitCredit250250

Dr.AccountsPayable250Cr.Cash250Exercise(1)-eExercise(1)-g

LowValueConsumablesCashDebitCreditDebitCredit9090

Dr.LowValueConsumables90Cr.Cash90Exercise(1)-gLowValueConsuExercise(1)-h

CashPrimeOperatingRevenuesDebitCreditDebitCredit2,0002,000

Dr.Cash2,000Cr.PrimeOperatingRevenues2,000Exercise(1)-hCashExercise(1)-i

CashAdministrativeExpensesDebitCreditDebitCredit700700

Dr.AdministrativeExpenses700

Cr.Cash700Exercise(1)-iCashExercise(2)-a

CashinBankPaid-inCapitalDebitCreditDebitCredit120,000120,000

Dr.CashinBank120,000

Cr.Paid-inCapital120,000Exercise(2)-aExercise(1)-b

IntangibleAssetsCashDebitCreditDebitCredit90,00090,000

Dr.IntangibleAssets90,000

Cr.Cash90,000Exercise(1)-bExercise(1)-c

SuppliesAccountsPayableDebitCreditDebitCredit2,0002,000

Dr.Supplies2,000

Cr.AccountsPayable2,000Exercise(1)-cExercise(1)-d

CashPrimeOperatingRevenuesDebitCreditDebitCredit6,0006,000

Dr.Cash6,000Cr.PrimeOperatingRevenues6,000Exercise(1)-dExercise(1)-e

EmployeeBenefitsPayableAdministrativeExpensesDebitCreditDebitCredit1,4001,300CashDebitCredit

2,700

Dr.EmployeeBenefitsPayable1,400AdministrativeExpenses1,300Cr.Cash2,700Exercise(1)-eEmployeeBeneExercise(1)-f

CashOtherOperatingRevenuesDebitCreditDebitCredit500500

Dr.Cash500

Cr.OtherOperatingRevenues500Exercise(1)-fExercise(1)-f

OtherOperatingCostsSuppliesDebitCreditDebitCredit500

500

Dr.OtherOperatingCosts500Cr.Supplies500Exercise(1)-fExercise(1)-i

AccountsPayableCashDebitCreditDebitCredit1,5001,500

Dr.AccountsPayable1,500Cr.Cash1,500Exercise(1)-iContentsContentsContentsContentsClicktoeditMastertitlestyleClicktoeditMastertitlestyClicktoeditMastertitlestyleAddYourTitletexttexttexttextClicktoeditMastertitlestyHavefunwithPowerPoint-AcoolsoftLearnMoreConvertPowerPointtovideosuchasAVI,MP4,WMV,MOVandsoonLearnMoreBurnPowerPointtoDVD,andwatchyourPowerPointonTVwithaDVDplayerLearn

MoreAprofessionaltoolwhichhelpsyouuploadPowerPointtoYouTubeHavefunwithPowerPoint-AcoThankYou!AddyourcompanysloganThankYou!Addyourcompanyslo有趣的翻译PrimeMinister总理ChiefTranslator首席翻译有趣的翻译PrimeMinisterChiefTrans有趣的翻译1、“亦余心之所善兮，虽九死其犹未悔。”FortheidealthatIholddeartomyheart,I'dnotregretathousandtimestodie.有趣的翻译1、“亦余心之所善兮，虽九死其犹未悔。”有趣的翻译2、“人或加讪，心无疵兮。”Myconsciencestaysuntaintedinspiteofrumorsandslandersfromtheoutside.有趣的翻译2、“人或加讪，心无疵兮。”有趣的翻译3、“兄弟虽有小忿，不废懿亲。”Differencesbetweenbrotherscannotsevertheirbloodties.有趣的翻译3、“兄弟虽有小忿，不废懿亲。”

Unit2

RecordingBusinessTransaction企业交易记录2.0AccountingTheory2.1TypesofBusinessEntities2.2TheAccountingEquation2.3DoubleEntryBookkeeping

Unit2

RecordingBusinessTrLearning

ObjectivesAfterfinishingthisunit,youshouldbeableto:UnderstandtheaccountingtheoryDescribethetypesofbusinessentitiesUnderstandtheaccountingequationUnderstandthedouble-entrybookkeepingLearningObjectivesAfterfinisAccountingTheoryAccountingtheorymainlycovers:AccountingAssumptionTheElementsofFinancialStatementsAccountingMeasurementAccountingTheoryAccountingthAccountingAssumptionAccountingassumptionsinclude:TheaccountingentityassumptionTheperiodicityassumptionThegoingconcernassumptionThemonetaryassumptionAccountingAssumptionAccountinAccountingAssumptionTheaccountingentityassumptionAnenterpriseshallrecognize,measureandreporttransactionsoreventsthattheenterpriseitselfhaveoccurred.AccountingAssumptionTheaccouAccountingAssumptionTheperiodicityassumptionAnenterpriseshallclosetheaccountsandpreparefinancialreportsforeachseparateaccountingperiod.

AccountingAssumptionTheperioAccountingAssumptionThegoingconcernassumptionInperformingrecognition,measurementandreportingforaccountingpurposes,anenterpriseshallbeassumedtobeagoingconcern.AccountingAssumptionThegoingAccountingAssumptionThemonetaryassumption

Accountingmeasurementshallbebasedonunitofcurrency.AccountingAssumptionThemonetTheElementsofFinancialStatementThebasicelementsinclude:AssetsLiabilitiesShareholders’Equity(orNetAssets)RevenuesExpensesProfitTheElementsofFinancialStatTheElementsofFinancialStatementAssetsCurrentAssetsPrepaymentsAccountsReceivableInterestsReceivableNotesReceivableOtherReceivablesRawMaterialsFinishedGoodsLowValueConsumables

Non-currentAssetsFixedAssetsLong-termReceivablesIntangibleAssetsGoodwillTheElementsofFinancialStatTheElementsofFinancialStatementLiabilitiesCurrentLiabilitiesShort-termBorrowingsAccountsPayableEmployeeBenefitsPayableTaxesandFeesPayableNotesPayableAdvancesfromCustomers

Non-currentLiabilitiesLong-termBorrowingsBondsPayableTheElementsofFinancialStatDifferenceBetweenLiabilityandDebtLiabilityLiabilities是liability的复数形式。它的意思是法律上的责任、义务。如liabilityforanaccident（肇事的责任）；liabilitytopaytaxes（纳税的义务）。只有其为复数形式liabilities时才表示负债、债务的意思。例如：负债是指将来需用货币或服务偿还的债务或履行的义务还有就是欠外部的数额，如应付票据、应付帐款、应付债券。DifferenceBetweenLiabilityaExercisesExercisesaboutliabilityandliabilitiesHeadmittedhis______fortheaccident.Heavy_____forcedthecompanyintobankruptcy.ExercisesExercisesaboutliabiDifferenceBetweenLiabilityandDebtDebtDebt指的是向外部借入实际上的金额而形成的债务。比如向银行或者其他企业借了一笔钱，需要在以后以一定的金额进行偿还。和liabilities相比，debt从属于liabilities。

DifferenceBetweenLiabilityaExercisesExercisesaboutdebtandliabilitiesThe_____heborrowedfromthelocalbankisabouttobepaidoff.Thestatusof______ofthiscompanyshowedthatitwasingreattrouble.ExercisesExercisesaboutdebtTheElementsofFinancialStatementShareholders’EquityPaid-inCapital(Sharecapital/CapitalStock)CapitalReservedSurplusReservedUndistributedProfitTheElementsofFinancialStatTheElementsofFinancialStatementRevenuesPrimeOperatingRevenuesOtherOperatingRevenuesNon-operatingRevenuesTheElementsofFinancialStatTheElementsofFinancialStatementProfitTotalProfitGrossProfitNetProfitTheElementsofFinancialStatAccountingMeasurementAccountingMeasurementHistoricalCostReplacementCostNetRealizableValue(NRV)PresentValue(PV)FairValue(FV)AccountingMeasurementAccountiTypesofBusinessEntitiesThreeformsofbusinessentities:TheProprietorshipOnlyhasasingleownerThePartnershipJoinstwoormoreindividualstogetherasco-ownerTheCorporationOwnedbyshareholdersTypesofBusinessEntitiesThreQuestions:DecidethetypesofthesethreebusinessentitiesQuestions:DecidethetypesofAccountingEquationsMostbasictooloftheaccountantAssets=Liabilities+EquityInabusinessenterprise,equityistheownershipinterestandiscalledowners'equityorshareholders’equityAccountingEquationsMostbasicAccountingEquationComputationI:SmallNumbers在口语中的小数目的加法，用and代表“+”号，is或are代表“=”号。7+8=157and8is/are15.AccountingEquationComputationAccountingEquationComputationI:SmallNumbers在口语中，小数目的减法形式是，减数+from+被减数+leave/is+余数。7-2=52from7leaves/is5.AccountingEquationComputationAccountingEquationComputationI:SmallNumbers在口语中，小数目的乘法，第二个数目用复数形式，“=”号用are表示。3*6=18Threesixesareeighteen.AccountingEquationComputationAccountingEquationComputationI:SmallNumbers在口语中，小数目的除法，除数+into+被除数+goes+余数，在此“=”用goes表示。8*2=42into8goes4.AccountingEquationComputationAccountingEquationComputation5+4=95-4=15*4=209/3=3

300+150=450215-75=14025*35=875999/3=333AccountingEquationComputationAccountingEquationComputationII:LargeNumbers在正式场合中或大数目，“+”号用plus（动词）表示，“=”号用is或equal表示。112+230=342112plus230is/equals342.AccountingEquationComputationAccountingEquationComputationII:LargeNumbers在正式场合中或大数目，“-”号用minus（动词）表示，“=”号用is或equal表示。250-120=130250minus120is/equals130.AccountingEquationComputationAccountingEquationComputationII:LargeNumbers在正式场合中或大数目，“*”号用times（动词）表示，“=”号用is或equal表示。120*20=2400120times20is/equals2400.AccountingEquationComputationAccountingEquationComputationII:LargeNumbers在正式场合中或大数目，“/”号用dividedby表示，“=”号用is或equal表示。360*120=3360dividedby120is/equals3.AccountingEquationComputationAccountingEquationHowtodescribetheeffectsoftransactionsontheaccountingequation?ThetypeoftransactionWhatthetransactiondidnotaffectTheequalityoftheequationAccountingEquationHowtodescAccountingEquationVocabularyincreasesth.by增加decreasesth.by减少involvevt.涉及到AccountingEquationVocabularyTheAccountingEquationAdentistinvested$10000cashinadentalpractice.Assets=Liabilities+Owners’equity+$10000+$10000Thistransactionisacapitaltransactionthatincreasesassetsandowners’equity.Thistransactioninvolvesnoliabilities.Theamountontheleftsideoftheequationequalstheamountontherightside.TheAccountingEquationAdentiTheAccountingEquationThedentalpracticepurchasedstationeriesonaccountatacostof$800.Assets=Liabilities+Owners’equity+$800+$800Thistransactionisanassetandliabilitytransactionthatincreasesbothassetsandliabilities.Thistransactioninvolvesnoowners’equity.Theamountontheleftsideoftheequationequalstheamountontherightside.TheAccountingEquationThedenTheAccountingEquationThedentisthadborrowed$10000fromthelocalbank,andnowthebankdecidedtotakethisdebtasinvestment.Assets=Liabilities+Owners’equity-$1000+$1000Thistransactionisaliabilityandequitytransactionthatdecreasestheliabilitieswhileincreasestheequitybythesameamount.Itdoesnotaffectanyassets.Notethatthesumsofthebalanceofeachsideisequal.TheAccountingEquationThedenTheAccountingEquationStationeriescosting$300wereused.Assets=Liabilities