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ann_dear2004
Sep 5, 2010, 03:18 AM
juan cruz open a trading business with a cashinvestment of P250,000.
what is the expanded accounting equation?

pready
Sep 5, 2010, 06:52 AM
Assets = Liabilities + Owners Equity

Your Journal entry will be: Debit Cash and Credit Owners Equity for the amount, therefore you are increasing an Asset and Owners Equity.

morgaine300
Sep 5, 2010, 04:27 PM
One post is sufficient. We aren't in need of four of the same one, thanks. You need to be patient and not expect an answer in 2 minutes - even at my real job where I get paid, people have to wait in line for their turn.