Explanation Revenue: Revenue refers to the income received from the business activity or sale of the output, during the accounting period. Accounting equation : Accounting equation is an accounting tool expressed in the form of equation, by creating a relationship between the resources or assets of a company, and claims on the resources by the creditors and the owners. Accounting equation is expressed as shown below: Assets = Liabilities + Stockholder's Equity Assets source transaction: Transaction that acquires the assets from primary sources of the business is called as assets source transaction. Assets source transactions increase the value of assets account, and increase the corresponding liabilities or stockholder’s equity account. The increased assets account is recorded with the debit entry, and increased liabilities or stockholder’s equity account is recorded with credit entry. Explain the manner in which revenue affect the accounting equation as follows: Revenue increases the value of assets, and stockholder’s equity

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Author: Thomas P Edmonds, Philip R Olds, Frances M McNair, Bor-Yi Tsay

Publisher: McGraw-Hill Education

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business…

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Chapter 1, Problem 22Q

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Explain the manner in which revenue affect the accounting equation.

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Chapter 1, Problem 21Q

Chapter 1, Problem 23Q

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Loose-Leaf for Survey of Accounting

Ch. 1 - Prob. 1Q Ch. 1 - Prob. 2Q Ch. 1 - Prob. 3Q Ch. 1 - 4. In a business context, what does the term...Ch. 1 - 5. What market trilogy components are involved in...Ch. 1 - 6. Give an example of a financial resource, a...Ch. 1 - Prob. 7Q Ch. 1 - 8. How do financial and managerial accounting...Ch. 1 - Prob. 9Q Ch. 1 - Prob. 10Q

Ch. 1 - Prob. 11Q Ch. 1 - 12. Distinguish between elements of financial...Ch. 1 - Prob. 13Q Ch. 1 - 14. To whom do the assets of a business belong?Ch. 1 - 15. Describe the differences between creditors and...Ch. 1 - Prob. 16Q Ch. 1 - Prob. 17Q Ch. 1 - Prob. 18Q Ch. 1 - 19. What does a double-entry bookkeeping system...Ch. 1 - 22. How does acquiring capital from owners affect...Ch. 1 - Prob. 21Q Ch. 1 - Prob. 22Q Ch. 1 - 25. What are the three primary sources of assets?Ch. 1 - 26. What is the source of retained earnings?Ch. 1 - 27. How does distributing assets (paying...Ch. 1 - 28. What are the similarities and differences...Ch. 1 - Prob. 27Q Ch. 1 - 30. Which of the general-purpose financial...Ch. 1 - 31. What causes a net loss?Ch. 1 - 35. What three categories of cash receipts and...Ch. 1 - Prob. 31Q Ch. 1 - 37. Discuss the term articulation as it relates to...Ch. 1 - 38. How do temporary accounts differ from...Ch. 1 - Prob. 34Q Ch. 1 - 41. Identify the three types of accounting...Ch. 1 - Prob. 36Q Ch. 1 - Prob. 37Q Ch. 1 - Prob. 1E Ch. 1 - Prob. 2E Ch. 1 - Prob. 3E Ch. 1 - Prob. 4E Ch. 1 - Prob. 5E Ch. 1 - Prob. 6E Ch. 1 - Prob. 7E Ch. 1 - Prob. 8E Ch. 1 - Prob. 9E Ch. 1 - Prob. 10E Ch. 1 - Prob. 11E Ch. 1 - Prob. 12E Ch. 1 - Prob. 13E Ch. 1 - Prob. 14E Ch. 1 - Prob. 15E Ch. 1 - Prob. 16E Ch. 1 - Prob. 17E Ch. 1 - Prob. 18E Ch. 1 - Prob. 19E Ch. 1 - Prob. 20E Ch. 1 - Prob. 21E Ch. 1 - Prob. 22E Ch. 1 - Prob. 23E Ch. 1 - Prob. 24E Ch. 1 - Prob. 25E Ch. 1 - Types of transactions and the horizontal...Ch. 1 - Prob. 27E Ch. 1 - Prob. 28P Ch. 1 - Prob. 29P Ch. 1 - Prob. 30P Ch. 1 - Prob. 31P Ch. 1 - Prob. 32P Ch. 1 - Prob. 33P Ch. 1 - Prob. 34P Ch. 1 - Prob. 1ATC Ch. 1 - ATC 1-5 Writing Assignment Elements of financial...

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