Principles of Accounting

Please read the following chapters in: Principles of Accounting: Volume I:

Chapter 1: Introduction to Accounting

Chapter 2: The Accounting System

Now here is the discussion question

As you have learned in this week’s readings the Accounting Equation is Assets = Liabilities + Owners’ Equity. Is the accounting equation true in all instances? Provide sample transactions from your own experiences to demonstrate the validity of the Accounting Equation.
Guided Response:
Review several of your peers’ postings and identify some core components that you feel should be included in every transaction.