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Project Report: Process financial transaction and extract.

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Added on  2020-04-21

Project Report: Process financial transaction and extract.

   Added on 2020-04-21

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Running Head: Process of financial transaction 1Project Report: Process financial transaction and extract interim report
Project Report: Process financial transaction and extract._1
Process of financial transaction 2Que 1 a)Books of Beck Wsik Company CashSuppliesAccounts receivableEquipmentAccountspayableCommonstockRetainedearningsA5000050000B50005000C-2000-2000Utility ExpensesD60006000Service RevenueE3000-3000F-5000-5000G1000010000H-2200-2200Dividends Total43800500030001000010000500001800The above table depicts about the financial transaction of Beckwsik and its impact over the various accounts (Garleanu & Pedersen, 2007). This table depicts that entire transaction impacts over 2 or more than 2 accounts constantly. Further, it has also been foundthat the impact of accounts make it easy for the accountant to analyze that whether the transaction has been reported in a good manner. Accounting equation:Accounting equation depicts that all the financial transaction has impact over 2 or more than 2 accounts. This accounting equation depict that all the assets of a company are either bought by the company on cash or borrowing money (Noreen, Brewer & Crawford, 2011). Thus the accounting equation of the finance is:Accounting Equation = Assets - Liabilities = capitalThe above discussed equation has been analyzed over the above given calculation to analyze that whether the above recorded transaction are correct or not. For analyzing it, all the assets have been added and subtracted from liabilities which would be equal to the total capital of the company. In the given case, the total assets are = 43800+5000+3000+10000
Project Report: Process financial transaction and extract._2

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