Month: July 2021

To further illustrate the analysis of transactions and their effects on the basic accounting equation, we will analyze the activities of Metro Courier, Inc., a fictitious corporation. Refer to the chart of accounts illustrated in the previous section. As we’ve learned previously, the accounting

For example, if your firm’s accounts payable increases as compared to the previous period, this means that your business is purchasing more goods on credit than cash. However, if your accounts payable reduce relative to the previous period, this implies that you are meeting