<Tr> <Td> 9 </Td> <Td> </Td> <Td> 0 </Td> <Td> </Td> <Td> 0 </Td> <Td> </Td> <Td> 0 </Td> <Td> Receiving cash for sale of an asset: one asset is exchanged for another; no change in assets or liabilities </Td> </Tr> <P> These are some simple examples, but even the most complicated transactions can be recorded in a similar way . This equation is behind debits, credits, and journal entries . </P> <P> This equation is part of the transaction analysis model, for which we also write </P> <Dl> <Dd> Owners equity = Contributed Capital + Retained Earnings </Dd> </Dl>

Owners' equity can be expressed as assets minus liabilities