Every business transaction can be analysed or expressed in terms of its effect on the balance sheet equation. Give one transaction for each of the following that will have an effect on: a. Increase in asset and an increase in owner’s equity (2 transactions) b. increase in asset and an increase in liability (1 transaction) c. Increase in one asset and a decrease in another asset (1 transaction) d. Decrease in asset and a decrease in owner’s equity (1 transaction) On this topic, you are required to record the transactions, construct a table of the Accounting equation and show the effects of the transactions on the assets, liabilities, and capital. (in Omani Rials)  please show all steps.

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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