At the end of its first month of operationsJMP Consulting reported net income of $26,800. They also had account balances of: Cash \$19.200 Office Supplies, $2,300 and Accounts Receivable \$10.600 . The owner's total investment for this first month was \$5,300 . There were no owner withdrawals the first month     Calculate the ending balance the Owner's Capital account to be reported on the Statement of Owner's Equity

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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