3 4 Analyze Business Transactions Using the Accounting Equation and Show the Impact of Business Transactions on Financial Statements Principles of Accounting, Volume 1: Financial Accounting
A useful tool for analyzing how transactions change an accounting equation is the T-account. The left side of a T-account is for debits, whereas the right side is credits. However, the effect of debits and credits on the balance in a T-account depends upon which side of the accounting equation an account is located. Just […]