Record the following transactions in the expanded accounting equation. The running balance may be omitted for simplicity. a. Baker invested $60,000 in a computer company. b. Bought computer equipment on account, $10,000. c. Baker paid personal telephone bill from company checkbook, $150. d. Received cash for services rendered, $14,000. e. Billed customers for services rendered for month, $30,000. f. Paid current rent expense,

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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