Question

assets expenses liabilities revenues are what by nature?​

Answer 1

Answer:

The expanded accounting equation for a sole proprietorship is: Assets = Liabilities + Owner's Capital + Revenues – Expenses – Owner's Draws. The expanded accounting equation for a corporation provides more details for the stockholders' equity amount shown in the basic accounting equation.

Explanation:

Account Type Overview

The five account types are: Assets, Liabilities, Equity, Revenue (or Income) and Expenses. ... Liabilities: money that the company owes to others (e.g. mortgages, vehicle loans) Equity: that portion of the total assets that the owners or stockholders of the company fully own; have paid for outright.

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Answer 2

Explanation:

The five account types are: Assets, Liabilities, Equity, Revenue (or Income) and Expenses. To fully understand how to post transactions and read financial reports, we must understand these account types. We'll define them briefly and then look at each one in detail:

Assets: tangible and intangible items that the company owns that have value (e.g. cash, computer systems, patents)

Liabilities: money that the company owes to others (e.g. mortgages, vehicle loans)

Equity: that portion of the total assets that the owners or stockholders of the company fully own; have paid for outright

Revenue or Income: money the company earns from its sales of products or services, and interest and dividends earned from marketable securities

Expenses: money the company spends to produce the goods or services that it sells (e.g. office supplies, utilities, advertising)