I am struggling in my accounting coarse and need help with breaking down the accounting equation, debits and credits. What will increase and decrease in the accounting equation, how different transactions affect the income statement and statement of cash flows. Also, understand how different formulas affect the accounting equation. I understand the basics: Assets= Liabilities + Stockholder equity. The account titles and transactions confuses me and solving math problems. We have completed Chapters 1-4 in Accounting 211. The textbook being used is Fundamental Financial Accounting Concepts.Warm regards,Kendra

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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