Need help with this portion of my assignment. Can anyone help? Assignment due Saturday…
Everything in Accounting typically falls into one of three categories, as illustrated by the Accounting Equation. State the Accounting Equation: Assets = _______________ + _______________
You will note that the Accounting Equation comprises 3 “categories”, each of which can be broken down further into accounts. For each of the three main categories of the Accounting Equation, list 5 or more accounts with actual amounts that would typically be classified into each with double entry accounting bookkeeping system. For instance, Land & Equipment would typically be categorized as Assets.
To simplify your answers, complete the assignment using a basic table or diagram.