Muscat Ceramic Company asks Ms. Mona, the accountant of the company to calculate the total liabilities from the details provided to her. The details are creditors RO 15000, bank overdraft RO 15000, cash in hand RO 20000, stock RO 30000, plant and machinery RO 15000 and cash at bank RO 16000. O a. RO 46000 O b. None of the options O c. RO 30000 O d. RO 42500

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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