Question: Below are pairs of changes that affect elements of the

Below are pairs of changes that affect elements of the accounting equation. Give an example of a transaction or economic event that reflects each:
a. Asset increases, asset decreases
b. Asset increases, liability increases
c. Asset increases, shareholders’ equity increases
d. Asset increases, revenue increases
e. Liability decreases, asset decreases
f. Asset decreases, expense increases
g. Liability decreases, revenue increases
h. Asset decreases, shareholders’ equity decreases
i. Liability increases, expense increases
j. Asset decreases, revenue decreases (this one’s a bit tricky)



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  • CreatedFebruary 26, 2015
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