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The medieval understanding of the universe
Accounting Equation
The fundamental equation of double-entry bookkeeping, stating that assets equal liabilities plus equity (Assets = Liabilities + Equity).
Services Provided
Work performed by one party for another without the supply of tangible goods. Examples include consulting, marketing, maintenance, and legal services.
Accounting Equation
The accounting equation is a fundamental principle of accounting representing the relationship between assets, liabilities, and owner's equity (Assets = Liabilities + Owner's Equity).
Received Cash
Funds that are taken in by the company, often from transactions such as sales, loans, or investments.
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