On the list below, describe a transaction that would have the required effect on the elements of the accounting equation.
1. increase one asset and decrease another asset.
2. Decrease an asset and decrease a liability.
3. Increase an asset and increase a liability.
Dear student I am providing you complete description of Accounting Equations, Normal balances of different ...
Dear student I am providing you complete description of Accounting Equations, Normal balances of different categories of accounts and effect of selected transactions as required by you.Please find this complete description in nine power point slides attached herewith.I have not limited the answer to the specific equations and the transaction effect but provided you basic concepts so as to enable you to understand it in a real perspective.