(a).
Concept Introduction:
The analysis of transactions using the accounting equation.
(b)
Concept Introduction:
Double-entry accounting: This accounting needs the
The
(c).
Concept Introduction:
Accounting equation: The relation of assets, liability, and equity is reflected in the accounting equation. Assets are resources a company owns or controls, whereas liabilities are what a company owes to outsiders and equity is the claims of the owners on the assets of the company.
The T accounts for given transactions.
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