The following are the major balance sheet classifications.   Current assets (CA)                                         Current liabilities (CL)    Long-term investments (LTI)                          Long-term liabilities (LTL)    Property, plant, and equipment (PPE)             Owner’s equity (OE)    Intangible assets (IA) Required: Classify each of the following accounts taken from Roberts Company’s balance sheet. ______ Accounts payable                         (4)  ______ Accumulated depreciation (2) ______ Accounts receivable                     (5) ______ Buildings       (3) ______ Roberts, Capital                            (6) ______ Long-term d

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A:

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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