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Essay Available:
Pages:
1 page/β‰ˆ275 words
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Style:
MLA
Subject:
Accounting, Finance, SPSS
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 4.68
Topic:

Mark Friedman Accounting. Accounting, Finance, SPSS Essay

Essay Instructions:

1. View the video https://youtu(dot)be/pfzy2UoUGac
2. Subscribe to the YouTube site Professor Mark Friedman Accounting
3. Create a one page, story that explains why:
a. Assets increase on the Left
b. Liabilities and Owners’ Equity increase on the Right
i. Some temporary accounts increase on the right
ii. Some temporary accounts increase on the left
c. Contra accounts do the opposite of their companion account

Essay Sample Content Preview:
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Accounting
1 Assets are considered to debits. According to the accounting rules, debits are posted on the left and therefore, given the fact that assets are a representation of the owner's wealth, then they increase on the left. An asset could be an increase in cash or equipment, and therefore, their transactions are recorded on the left. The assets of an individual or organization have to increase for it to operate at a profit.
2 In addition, liabilities and owner's equity are considered to be credits or obligations that the owner has to pay. Credits are posted on the right side of the accounting table of the double-entry book-keeping method. Therefore, this explains the reason as to why they increase on ...
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