The accounting equation template is shown below. In the area provided below, indicate all the...
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Accounting
The accounting equation template is shown below. In the area provided below, indicate all the sections that would be affected by this transaction, with both the amount and the sign. Use a negative sign when indicating an item in the expense column. If it is a transaction that affects both the income statement and balance sheet, you must indicate the effect on both.
Transaction: Jayanthar Motors determines they need to write down the value of their car wash equipment by $8000. Show the effect of this transaction.
To have the answer graded correctly, enter the correct value preceded by a + or - sign (e.g. +350 or -650). For categories that are unaffected enter the value "0" NO SPACES
Cash
Non-cash Assets
=
Liabilities
Contributed Capital
Retained Earnings
----------------------
Revenue
Expenses
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