Give a unique example of a business transaction. Then explain and show the T-account info. Have a fictitious company, then do a fictitious scenario. must post 3 references in terms of their initial posting. 1 of the references can be from the book, however, 2 outside sources are additionally required, do not use Wikipedia, all sources have to be proper per MLA or APA standards. Example:

Owner invests $5,000. Analysis: Since money is deposited into the checking account, Cash is debited (the balance increased by $5,000). What account receives a credit? An Equity account called Owner's Equity or Capital Contribution. Since Equity accounts are 'negative' accounts, crediting this Equity account increases its balance by $5,000.

Debit Cash(increase its balance)?

Credit Owner's Equity(increases its balance)?

Answer rating: 100% (QA)

Fictitious Business Transaction ABC Landscaping Services a landscaping company purchases new equipme... View the full answer