Accounting Equation

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Last updated 6:41 AM on 6/11/26
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15 Terms

1
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Assets

things the company owns

2
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Assets

Cash

3
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Assets

Inventory

4
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Assets

Equipment

5
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Assets

Accounts Receivable

6
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Assets

Prepaid Rent

7
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Liabilities

debts

8
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Liabilities

Accounts Payable

9
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Liabilities

Loans

10
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Liabilities

Salaries Payable

11
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Liabilities

Interest Payable

12
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Liabilities

Taxes Payable

13
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Equity

owner’s claim

14
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Equity

Common Stock

15
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Equity

Retained Earnings