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  • Hows accounting going in school little johnny.
  • its going pretty good but ma accounting is a really rough class. we are learning about this stuff called bull and bear markets
  • statements when i was in school the most confusing things were balance sheets and income statements. But ya know buddy i majored in it so if you need anything come to me 
  • okay... i really just need to understand owners equity.. anyway you can help me with that?
  • the owners equity rises and or drops based on the net loss or the net income. and at the end of the fiscal year you can see how the year has either been profitable or in debt using these things called balance sheets
  • oh okay now all of this is coming together. now i understand why transactions and asstets are so important too.
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