What is the common accounting equation that reflects the relationship among liabilities, owner?s equity, and assets? Define each
Exercise:
Place each one in the proper order so that the equation from above equals: (show your work)
Cash- 89,000
Accounts Payable -25,000
Buildings - 1,000,000
Mortgage Payable -250,000
Retained Earnings -837,000
Payroll Taxes due - 9,000
Patient receivables - 55,000
Accounts payable:
Supplies - 23,000
What is the difference between an expense and a cost?
Minimum of 450-500 words in length and properly sourced.