Transactions in Accounting

What is a Transaction?
This means the receiving and the giving of equal value between two or more persons in the form of money or money's worth.

Example:
The effect of Transactions on the Account Equation.
  1. Owner Invested £4,000 Cash and started Business
  2. Bought a Motor Vehicle for £1,000 cash
  3. Bought Goods worth £2,500 on Credit from Jason
  4. Sold Goods worth £1,100 on Credit to Peter
  5. Deposited £500 Cash into Bank account