Basic Accounting Transaction with EXAMPLES
Basic Accounting Transaction with EXAMPLES Accounting Process for Transaction Analysis - WorldWide Webster On the accounting process, you'll recall from class the accounting process has three major steps. Three major steps step one is transaction analysis step two records the transactions using the debit credit framework. step three summarizes the transactions by posting them to T accounts which we can use to create the balance sheet. so let's begin with our example you see here we've got Shelly Webster who started a web design. business on December the 1st 2015 and we've given you some transactions that happened during December Shelly's business you can see here that she had a shareholder invest in her business she also borrowed some money from the bank we can see run her business she bought some equipment in C and in D she purchased and received. some supplies are on credit so we're going to have to deal with the credit aspect of it you can see an e through