List and Define the Elements of the Accounting Equation

Essay

List and define the elements of the accounting equation.
$$\begin{array} { | l | l | } \hline { \text { Element } } & \text { Definition } \\\hline \text { Assets } & \\\hline \text { Liabilities } & \\\hline \text { Shareholders' } & \\\text { Equity } & \\\hline \text { Revenues } & \\\hline \text { Expenses } & \\\hline \text { Gains } & \\\hline \text { Losses } & \\\hline \text { Distributions to } & \\\text { Owners } & \\\hline \text { Investments by } & \\\text { Owners } & \\\hline\end{array}$$