Cash Pirate Pete, Capital Oct. 1 Net loss Oct. 2017 Owner investments Wages payable Supplies expense Owner withdrawals $14,500 56,000 7,800 1,500 3,250 750 100

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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