Accounting Create T Accounts for the following transactions: A. Paid salaries expense, $900 B. Brad paid personal utilities bill from the company checkbook, $98 C. Advertising bill received but unpaid, $150 D. Received cash from photography fees, $850 E. Paid supplies expense, $600 F. Brad donated additional furniture for the business, $2,000 G. Billed customer for photography services rendered, $1,200 H. Received one-half the balance from transaction G I. Bought Furniture on account, $425

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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