When recording transactions into the accounting equation, which of the following statements are correct? (Check all that apply.) Multiple select question. After recording the transaction, total assets will always equal total liabilities plus equity. The accounting equation must always remain in balance. Cash must always equal Equity. Expenses are listed on the right side of the accounting equation and will increase the equity account.

To begin with, the name of "Accounting Equation" is famously known in the business field due to the fact that it is a concept from the accountant of companies and in fact a very important one. The accounting equation represents the sum between the equity and the debts of the company that will always give the total assets of the company. It is considered to be the foundation of the double-entry accounting system, so that is why it is so important. Moreover, under its doctrine, it proves that the balance sheet must always remain balance.

ayfat23 ayfat23 · Answer 2 · 2022-01-18T11:21:43+01:00

The statements that is correct about recording of transactions into the accounting equation are;

After recording the transaction, total assets will always equal total liabilities plus equity.

The accounting equation must always remain in balance.

In accounting, accounting equation is very important inoder to calculate the profits of the organization.

We can conclude that total assets will always equal total liabilities plus equity. when using accounting equation.

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