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The Accounting Equation MAIN
- ASSETS
- anything that will add future values
- car
- jet
- yacht
- car
- DEBTORS
- someone that owes your buisness money
- someone that owes your buisness money
- anything that will add future values
- LIABILITIES
- debt
- Loan
- loan=cash
- loan=cash
- Creditor
- debt
- EQUITY
- owners equity
- value of assests owner really owns
- OWNERS EQUITY=ASSETS-LIABILITIES
- value of assests owner really owns
- shareholder's equity
- publicly owned corporation
- publicly owned corporation
- owners equity
- EXPENSES
- NET INCOME/NET LOSS
- NET INCOME
- BRINGING IN MORE MONEY THAN IT'S SPENDING TO CONTINUE OPERATIONS
- BRINGING IN MORE MONEY THAN IT'S SPENDING TO CONTINUE OPERATIONS
- NET LOSS
- company is bringing in less money
- company is bringing in less money
- NET INCOME
- cost a company incurs in carrying on operations
- decreases owners equity
- decreases owners equity
- NET INCOME/NET LOSS
- REVENUES
- INCOME
- any money thaat comes into your buisness
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