My Hero Academia Tutorial Services had the following financial information by the end of the year: Beginning Ending Particulars (Jan 1, 2020) (Dec 31, 2020) Assets P1,000,000 Þ1,450,000 Liabilities 650,000 900,000 Owner's Withdrawal 363,000 Expenses 470,000 How much was revenue for 2020?

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Q: The adjusted trial balance for MAJAN Company at December 31, 2019 contains the following. Debits…

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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