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Unformatted text preview: ASSET LIABILITIES Increases an Asset/Increases Liabilities ASSET OWNERS EQUITY Increases an Asset/Increases Owner's Equity LIABILITIES ASSET Decreases a Liability/Decreases an Asset OWNERS DRAW ASSET Increases a Draw (Reduces Equity/ Decreases an Asset EXPENSE LIABILITIES Increases an Expense (Reduces Equity)/Increases a Liability EXPENSE ASSET Increases an Expense (Reduces Equity)/Decreases an Asset What happens when you….?...
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This note was uploaded on 01/22/2011 for the course ACCT 280 taught by Professor Ddddd during the Winter '10 term at University of Phoenix.
- Winter '10