Question
Asked Jan 25, 2019
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how do I determine were to enter the amount of each transaction on individual items of the accounting equation.

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Expert Answer

The amount of each transaction on individual items of the accounting equation are enter by following steps:

(1) Ascertain the variables (i.e. assets, liabilities or capital) of an equation affected by a transaction.

For example: Mr. A commenced business with $50,000

(2) Find out the effects (in terms of increase or decrease) of a transactions on the variables of an equation.

Introducing $...

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