The expanded accounting equation builds upon the basic accounting equation's use of assets, liabilities and equity by incorporating additional components such as revenues, expenses and withdrawals.

Financial data are most often recorded using a technique called double-entry accounting. This method relies upon a mathematical construct called the accounting equation. Any time an adjustment is made ...

Before any meaningful discussion can occur about the effect that a cash purchase of office supplies has on the accounting equation, it is important to understand what the accounting equation is and ...