![]() ![]() ![]() These include accounts payable, wages payable, notes payable, etc.Īctivities such as sales, dividends, services, etc. The owner’s equity represents the owner’s They include rent, interest expense, etc. They include cash, accounts receivable, equipment, etc.Įxpenses are the cost of the consumed assets. If they don’t, double-check because you’ve probably made a mistake.ĭoes it all still sound a bit confusing? Don’t worry! We’ve made a cheat sheet so you can easily remember.
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