1. Topic: Accounting Equation
Accounts Project
Topic:
Accounting Equation

2. What is the Accounting Equation?
The whole of account is based upon a very simple idea. It is called Accounting Equation. It can be explained by saying that if a firm is to set up and start trading, then it needs resources.
The equation is:
Assets=Capital+liabilities

3. Assets are resources owned by a business
Assets are resources owned by a business. Capital is the total amount of resources supplied to a business by its owner. Liabilities are the total of money owed for assets supplied to a business by people other than the proprietor.

4. Test 1 Please finish the table
Assets
Capital
Liabilities
$9900
$3300
$5000
$1200
A:$6600,$3800
B:$2000,$10000

5. YES!

6. OH! SORRY!