Guide Questions1. What are the elements of an expanded accounting equation?2. Can you still remember the different accounts in your chart of accounts?3. Can you give example of transactions which results to an increase or decrease in anaccount?RubricActivityAdvancedCompetentDevelopingBeginner Guide Questions1. Can you still recall the rules of debit credit?2. How do we increase or decrease an account?3. Do you agree that debit means to increase an account and credit means to decrease anaccount?

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Description: Guide Questions1. What are the elements of an expanded accounting equation?2. Can you still remember the different accounts in your chart of accounts?3. Can you give example of transactions which results to an increase or decrease in anaccount?Rubri

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Business

Accounting

1. What are the elements of an expanded accounting equation?

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter1: Asset, Liability, Owner’s Equity, Revenue, And Expense Accounts

Section: Chapter Questions

Problem 5QY: M. Parish purchased supplies on credit. What is the impact on the accounting equation? a. Increase...

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