Title: Demonstrate the effects of transactions on the accounting equation.
Course: Accounting (12104-I) > Section: Understanding the Accounting Cycle for a Service Business

Demonstration should

- use the basic accounting equation (Assets = Liabilities + Owner’s Equity) to show the ways transactions cause parts of the equation to increase or decrease
- use the expanded accounting equation to include revenue, expenses, and withdrawals
- use the transactions to show the relationship between the basic accounting equation and the expanded accounting equation.