Quick Cleaners, Inc. (QCI), has been in business for several years. It specializes in cleaning houses but has some small business clients as well.Issued $30,000 of QCI stock for cash.Incurred $820 of utilities costs this month and will pay them next month.Incurred and paid wages for the current month, totaling $2,800.Performed cleaning services on account worth $4,000.Some of Quick Cleaners’s equipment was repaired at a total cost of $202. The company paidthe full amount at the time the repair work was done.Find the preliminary net incomeI have done the journal entry but how do you know what to add

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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