What are the effects on the accounting equation from the adjustment for which the seller has satisfied the performance obligation to its buyers during the accounting period that had previously been recorded as a liability?.

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28-01-2022
Business

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What are the effects on the accounting equation from the adjustment for which the seller has satisfied the performance obligation to its buyers during the accounting period that had previously been recorded as a liability?.

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ewomazinoade ewomazinoade · Answer 1 · 2022-02-08T14:02:03+01:00

The effect on accounting equation is that total liabilities would decrease and stockholder's equity would increase.

What is the accounting equation?

The accounting equation also known as the balance sheet equation relates the assets of a business to its liabilities and stockholders' equity. According to the accounting equation: Stockholders' equity = Assets - liabilities.

When a liability reduces, stockholder's equity increases. Also, when assets increases, stockholder's equity increases.

To learn more about stockholder’s equity, please check: https://brainly.com/question/26210654