Double-entry accounting system: The double-entry accounting system acts as the base for the preparation of accounting equations . According to the accounting equation , the total assets are equal to shareholders' equity and liabilities The effect of various transactions on the accounting equation.

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Chapter 11, Problem 5E

To determine

Concept Introduction:

Double-entry accounting system: The double-entry accounting system acts as the base for the preparation of accounting equations. According to the accounting equation, the total assets are equal to shareholders' equity and liabilities

The effect of various transactions on the accounting equation.

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