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Video instructions and help with filling out and completing Where Form 8815 Transaction

Instructions and Help about Where Form 8815 Transaction

Hello we are back this is lecture number 3 I believe so we're moving right along thank you for being here today for you folks watching at home for you folks here face to face I'm slowly getting over my cold so for thank you for the flowers and they get well cards that have been sent my way I will pull through this thing and I do appreciate you your well wishes for you folks at home what we just did here for the face to facers was we just took a quiz and obviously I can't give you the quiz at home the quiz that I gave once you show it on the screen and if you're at home why don't you just pause it and see how you would do on this quiz just pause it and when you're done taking that quiz so to speak just start it up again you can go over the answers so we will go over the answers right now okay so let's switch over and I'll just what is the accounting equation assets equals liabilities plus owner's equity or equity right assets equals liabilities plus owner's equity and that always has to remain in balance for company at any given point in time the assets have to equal the liabilities plus the owner's equity what makes equity increase investments of assets by the owner in to the business in revenue right investments of assets by the owner into the business and revenue are the two things that cause the owner's equity to increase the two things that cause it to decrease are just the flip sides of that withdrawals of assets by the owner out of the business and expenses okay so I want you to have that those facts...

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