Accountancy, asked by tesfayeshumet11, 26 days ago

transaction example for Increases a liability and decreases owners equity?

Answers

Answered by PearlTiwari
1

Answer:

The main accounts that influence owner's equity include revenues, gains, expenses, and losses. Owner's equity will increase if you have revenues and gains. Owner's equity decreases if you have expenses and losses. If your liabilities become greater than your assets, you will have a negative owner's equity.

Answered by raniposhi
2

Answer:

Outstanding Rent

The main accounts that influence owner's equity include revenues, gains, expenses, and losses. Owner's equity will increase if you have revenues and gains. Owner's equity decreases if you have expenses and losses. If your liabilities become greater than your assets, you will have a negative owner's equity

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