Perform a vertical analysis for the balance sheet entry "Accounts Payable" given below (a decimal place.) Liabilities and Owner's Equity Current Liabilities Accounts Payable Salaries Payable Taxes Payable Total Current Liabilities Long-Term Liabilities Debenture Bond $11,400 3,200 4,000 18,600 17,000 35,600 Total Liabilities Stockholder's Equity Retained Earnings 43,000 Total Liabilities and Stockholder's Equity $78,600 il

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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