Explain the recording process and the accounting equation to someone who has no

Question

Explain the recording process and the accounting equation to someone who has no accounting experience. Explain the recording process and the accounting equation to someone who has no accounting experience. 1 AT&T; LTE 2:36 PM Done 4 of 4 IN ALEKS: Carla Winfield A ALI KS: Cari, waní × https://www awhaleks.com/alekogvonslexeno-u-IgNskr7jap3jh.Ux Calculator GradebookCalend swer is incorrect w is information related to Rodriguez Company come Beginning carita Ending capital $ 10,500 40,000 12,800 Nee income 3,400 Clear Undo Help Next Explain

Explanation / Answer

1) Ending capital = beginning capital + addittional investment + net income - drawings 40,000 = 10,500+12,800+x -3,400 40,000 = 19900 + x X             = 40,000-19,900 20100 2) which two Accounts are affected Rent expense Cash what kind of accounts are they Temporary Real do the account balances increase Decrease Debit Credit

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