DQ#1As you have learned in this weeks readings the Accounting Equation is Assets

DQ#1As you have learned in this weeks readings the Accounting Equation is Assets = Liabilities + Owners Equity. Is the accounting equation true in all instances? Provide sample transactions from your own experiences to demonstrate the validity of the Accounting Equation. DQ#2What does the termaccountmean? What are the different classifications of accounts? How do the rules for debits and credits impact accounts? Please provide an example of how debits and credits impact accounts.