Transaction Description Previous balance, $2645.38 Billing date June 1 June 6 June 8 June 9 June 17 June 27 June 30 Payment Charge: Gas Charge: Groceries Charge: Gas Charge: Groceries Charge: Clothing End of billing period Transaction Amount $1300.00 credit $35.05 $137.21 $41.82 $126.18 $213.96

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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