The document outlines accounting equations for assets (A), liabilities (L), expenses (E), owners' equity (C), revenue (R), and net income (NI). It shows that for any transaction, the sum of debits must equal the sum of credits. Finally, it states that for the balance sheet, the total assets plus expenses must equal total liabilities plus owners' equity plus revenue in order to balance.

30. A = L + E
E = C + RE
RE = NI –W
NI = R –E
E = C + R –E –W
A = L + C + R –E –W
A = L + C – W + R –E
A+E+W = L+C+R
Remember that for every transaction,
The Sum of Debits = The Sum of Credits.
The left side of the balance sheet must balance the right side:
Assets + Expenses = Liabilities + Owners' Equity+ Revenue/Profit.

35. http://tutorsden.weebly.com/free-online-
notes.html

80. http://www.businessbookmall.com/Financial
%20Accounting%20Tests%20With
%20Answers.htm

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