Prepare the owner's equity statement for Blossom Company. (List items that increase owner's equity first.) BLOSSOM COMPANY Owner's Equity Statement For the Year Ended December 31, 2022 Owner's Capital, January 1 Add: Net Income /(Loss) Owner's Capital, December 31 > tA 00 LA 0000

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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