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5.What do we mean when we say that a transaction analysis chart is a teaching device?6.What are the five steps of the transaction analysis chart?7.Computers cannot do debits and credit – agree or disagree and explain why.I disagree that computers cannot do debits and credits because they can beused and the ledger can be a part of a computer file.
8.A trial balance is a formal statement. True or false? Please explain.The trial balance is not a formal statement; it is however used to prepare financial statements by listing all the accounts with their balances in the same order as they appear on the chart of accounts and proves the accuracy of their ledger.