ohn Sullivan started a business. During the first month (February 20--), the following transactions occurred. Show the effect of each transaction on the accounting equation: Assets = Liabilities + Owner's Equity. After each transaction, show the new totals. Use the minus sign to indicate a decrease or reduction in the account. If an amount box does not require an entry, leave it blank.   Assets  =  Liabilities  +  Owner's Equity a.  Invested cash in the business, $29,000.   fill in the blank 1   fill in the blank 2   fill in the blank 3 Bal. fill in the blank 4   fill in the blank 5   fill in the blank 6

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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