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AudreyA01.V.10.1 Introduction to AccountingAssignment 4_04October 2, 2015AccountingIntroductionIn this paper I will be recording transactions and showing my work. I will also bepreparing a trail balance in good form for Benson Company. I will also be using the T-accountgraph to show how I record the transactions for Campus Cycle Shop.Using Basic Accounting EquationA basic accounting equation or sometimes known as the balance sheet equation, representsthe relationship between assets, liabilities, and owners’ equity in a business. In this portion I willbe showing you how a basic accounting equation works. Based on the information given:a. Brian invests $10,000 cash to begin an accounting service.
b. The company buys office furniture for cash, $600.c. The company buys additional office furniture on account, $300.d. The company makes a payment on the office furniture, $200.Brian's Accounting ServiceASSETS=LIABILITIES+OWNER'S EQUITYCash +Office Furniture=Accounts Payable+Brian's Capitala. $10,000.00$10,000.00b. -600.00+ $600.00c.+$300.00+$300.00d. -$200.00-$200.00