Accounting equation simply means that your assets must be equal to owners equity plus liabilities.
A = OE + L
Assets have a debit balance, increase on the dr side and decrease on the cr side
Owners equity and Liabilities both have a cr balance, increase on the cr side and decreases on the dr side.
NOTE: your left side of your book represents debit side and left side represent credit side.
Lets do an example.Buy equipment of R500 and paid by cheque.(refer to above for answer)
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