Construct an analysis of the following transaction and use the table: Assets     = Liabilities     + Owner's Equity     Account title Debit Credit   Account title Debit Credit   Account title Debit Credit   Mrs. Mason completed these transactions during the first month of her business’s operations: Date Transactions April 2 Talas invested P14,000 cash to start her business. 2 Paid monthly rent, P500 3 Paid cash for a Dell computer, P2,000.  4 Purchased office furniture on account, P3,600. 10 Purchased supplies on account, P300. 15 Performed service to customers on account, P1,700 22 Paid salaries, P200 25 Performed service for customers and received cash for the full amount of P800 26 Paid P1,000 for the office furniture purchased on September 4 and gave a note payable for the remaining accounts payable 30 Received P1,500 from customers billed before.

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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