Be-The-One is a motivational consulting business. At the end of its accounting period, December 31, 20Y2, Be-The-One has assets of $395,000 and liabilities of $97,000. Using the accounting equation, determine the following amounts: a.  Stockholders' equity as of December 31, 20Y2. b.  Stockholders' equity as of December 31, 20Y3, assuming that assets decreased by $65,000 and liabilities increased by $36,000 during 20Y3.

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is