Question: Chapter 4 reminds us of the accounting equation assets = liabilities + owner's equity. Using the equation as a basis the chapter takes us through the details in the accounting process by beginning with the actual business events then proceeding all the way to creating the financial statements. Below are 5 videos that address the transaction analysis process including a basic example, the recording process and the overall concept of the accounting cycle. Your assignment is to watch all the videos and describe in your own words your interpretation of them. These videos address in an overall manner the ideas covered in chapter 4. Your posted answer should be at least 200 words. Please pay attention to your grammar, spelling and word usage.
Videos: 1. Transaction Analysis - Basic Concept (By AccountingWITT)
2. Transaction Analysis - Concept
3. The Recording Process
4. What is the Accounting Cycle? (Conceptual)
5. Transaction Analysis - Basic Example