4. Transaction analysis results in the development of a journal entry. In the s

4. Transaction analysis results in the development of a journal entry. In the start-up of a business the owner contributes $50000 of cash. Name the accounts
impacted and how using the format account name/debit or credit/dollar amount and explain how the Accounting Equation is impacted. 3. The accounting profession follows a set of guidelines for measurement and disclosure of financial information called the Generally Accepted Accounting
Principles (GAAP). (1) Explain what the Entity Assumption is (10 points) and (2) provide an example of its application. (10 points) 2. The financial statements present a company to the public in financial terms. Which financial statement identifies how much cash the company generated and spent
during the year and identify the three major parts of this statement. b