Transaction Review

Any random item

• Goods

• Assets

• Products

• Services

A job someone else does for you

• Goods

• Assets

• Products

• Services

Something that you own that has value

• Goods

• Assets

• Products

• Services

Something a person or business owes (borrows)

• Owner's Equity

• Credit

• Loans

• Liability

An owner's claim on the business

• Owner's Equity

• Credit

• Loans

• Liability

Asking a bank for money to buy very expensive items

• Owner's Equity

• Credit

• Loans

• Liability

Money borrowed instantly for small everyday items

• Credit Card

• Credit

• Loans

• Liability

An event that creates change in the accounting equation

• Assets

• Owner's Equity

• Transactions

• Liability

To use up

• Assets

• Consume

• Transactions

• Liability

Inside

• Internal

• Exchange

• Non-exchange

• External