Write TRUE f the analysis for each transaction is correct and FALSE if it is not.  1. The owner invested Php30,000 cash n her nail salon Analysis: Increase in Asset:                                 Cash Php30,000 Increase in Owner's Equity:                 Owner's Capital Php30,000 2. The businessman bought supplies for Php3,000 cash Analysis: Increase in Asset:                                   Laundry Supplies Php3,000 Increase in Liability:                               Accounts Payable Php3,000

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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