Assets + Revenue = Profit
Assets + Liabilities = Owner's Equity
Revenue + Assets + Owner`s Equity
Assets = Liabilities + Owner's Equity
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In asset, liability and owner`s equity accounts
In revenues and expenses
In assets and liabilities
Revenues and owner's equity
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The general ledger
The trial balance
The balance sheet
The journal
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Net Income
Net Loss
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Working the transaction
Breaking down the transaction
Analyzing the transaction
Guessing
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