Describe how the various account types interact with each other to form the accounting equation.
How do the entries affect account balances and why both debit and credit entries can increase or decrease an account balance?

Question

Describe how the various account types interact with each other to form the accounting equation. 
How do the entries affect account balances and why both debit and credit entries can increase or decrease an account balance?

anonymous · Answer

I remember the accounting equation was
A = L + E

anonymous · Answer

I have a anser to the first question i just don't understand the second

anonymous · Answer

answer sorry lol...

anonymous · Answer

Assets are balanced by liabilities and equity.
Debits and credits happen on both sides and which side will determine what is increasing.

anonymous · Answer

Thank you