Reason for investing and financing totals being always equal. Accounting Equation : The asset, liabilities and equity relation is known as the accounting equation. Assets are the resources of company and increase as business expands whereas liabilities are the burden on company that has to be paid in future. Equity means the owner’s claim on assets. An accounting equation represents that assets of a company are equal to the sum of liabilities and equity of the company.

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Answer 1

Question

Chapter 1, Problem 31DQ

To determine

To explain:

Reason for investing and financing totals being always equal.

Accounting Equation:

The asset, liabilities and equity relation is known as the accounting equation. Assets are the resources of company and increase as business expands whereas liabilities are the burden on company that has to be paid in future. Equity means the owner’s claim on assets. An accounting equation represents that assets of a company are equal to the sum of liabilities and equity of the company.

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Answer 2

Question

Chapter 1, Problem 31DQ

To determine

To explain:

Reason for investing and financing totals being always equal.

Accounting Equation:

The asset, liabilities and equity relation is known as the accounting equation. Assets are the resources of company and increase as business expands whereas liabilities are the burden on company that has to be paid in future. Equity means the owner’s claim on assets. An accounting equation represents that assets of a company are equal to the sum of liabilities and equity of the company.

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Answer 3

Question

Chapter 1, Problem 31DQ

To determine

To explain:

Reason for investing and financing totals being always equal.

Accounting Equation:

The asset, liabilities and equity relation is known as the accounting equation. Assets are the resources of company and increase as business expands whereas liabilities are the burden on company that has to be paid in future. Equity means the owner’s claim on assets. An accounting equation represents that assets of a company are equal to the sum of liabilities and equity of the company.

Expert Solution & Answer

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Answer 4

Question

Chapter 1, Problem 31DQ

To determine

To explain:

Reason for investing and financing totals being always equal.

Accounting Equation:

The asset, liabilities and equity relation is known as the accounting equation. Assets are the resources of company and increase as business expands whereas liabilities are the burden on company that has to be paid in future. Equity means the owner’s claim on assets. An accounting equation represents that assets of a company are equal to the sum of liabilities and equity of the company.

Expert Solution & Answer

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Answer 5

Chapter 1, Problem 31DQ

To determine

To explain:

Reason for investing and financing totals being always equal.

Accounting Equation:

The asset, liabilities and equity relation is known as the accounting equation. Assets are the resources of company and increase as business expands whereas liabilities are the burden on company that has to be paid in future. Equity means the owner’s claim on assets. An accounting equation represents that assets of a company are equal to the sum of liabilities and equity of the company.

Answer 6

Chapter 1, Problem 31DQ

To determine

To explain:

Reason for investing and financing totals being always equal.

Accounting Equation:

The asset, liabilities and equity relation is known as the accounting equation. Assets are the resources of company and increase as business expands whereas liabilities are the burden on company that has to be paid in future. Equity means the owner’s claim on assets. An accounting equation represents that assets of a company are equal to the sum of liabilities and equity of the company.

Answer 7

Chapter 1, Problem 31DQ

To determine

To explain:

Reason for investing and financing totals being always equal.

Accounting Equation:

The asset, liabilities and equity relation is known as the accounting equation. Assets are the resources of company and increase as business expands whereas liabilities are the burden on company that has to be paid in future. Equity means the owner’s claim on assets. An accounting equation represents that assets of a company are equal to the sum of liabilities and equity of the company.

Answer 8

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Answer 9

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Answer 10

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Answer 11

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