The accounting equation can be stated as assets + liabilities = owner's equity.
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Q45: When a revenue is recorded, the asset
Q46: A business paid $8,500 to a creditor.
Q47: Owner's equity is often referred to as
Q48: If owner's equity is $135,000 and total
Q49: Owner's equity and total assets were $32,000
Q51: A promise by a customer to pay
Q52: The purchase of supplies on account would
Q53: Total assets and total liabilities were $31,000
Q54: Increases in owner's equity result from revenues
Q55: The recording of an owner withdrawal has
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