Question

The Basic accounting equation is *

Asset = Expense + Income

Assets = Capital + Liabilities

Assets= Cash + Capital

Assets = Expenses + Capitalk​

Answer 1

Answer:

The accounting equation is considered to be the foundation of the double-entry accounting system. On a company's balance sheet, it shows that a company's total assets are equal to the sum of the company's liabilities and shareholders' equity.

Based on this double-entry system, the accounting equation ensures that the balance sheet remains “balanced,” and each entry made on the debit side should have a corresponding entry (or coverage) on the credit side.

Explanation:

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