how will you deal with the following items in accounting equation ?

(a) outstanding expenses

(b) prepaid expenses

(c)any income

(d) drawing

(d)

(

Outstanding Expenses- These expenses will be deducted from the Capital and added to the liabilities.

Prepaid Expenses- These expenses will be added both to the assets and capital.

Income- All incomes will be added to both the capital and assets.

Drawings- Drawings either in cash on in other form (e.g. withdrawn of goods for personal use) will be deducted both from capital and assets.