(a) LIABILITIES (b) Contributed Capital Retained Earnings (c) (f) Credit ASSETS + Common Stock (d) Revenues Expenses (m) Incr. (r) Credit (e) Decr. Decr. (o) (h) Credit () Credit Debit (n) (g) (i) (k) Debit (1) Credit (p) (q)

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A: Balance sheet: This financial statement reports a company’s resources (assets) and claims of…

Q: Utility Expense.

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Q: Identify the normal balance (Dr for Debit; Cr for Credit) and type of account (A for asset, L for…

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Q: Which of the following errors would cause the Balance Sheet and Statement of Owner’s Equity columns…

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Q: Match the transaction to the correct financial statement effect. + indicates increase, (indicates…

A: Accouting Formula: Assets = Liabilities + Capital

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is