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Accounting

Types of Transactions

There are three elements to the accounting equation: assets, liabilities, and stockholders' equity. Although other possibilities exist, five types of transactions are described here. For each of these five types, write descriptions of two transactions that illustrate the type of transaction.

Type of Transaction	Assets ¼	Liabilities þ Stockholders' Equity
1.	Increase	Increase
2.	Increase	Increase
3.	Decrease	Decrease
4.	Decrease	Decrease
5.	Increase
	Decrease

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91624916

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