1.Accumulated Depreciation appears on the:          a. Statement of Financial Statement        b. Statement of Income       c. Statement of changes in equity      d. Statement of cash flows       Which of the following appears on a post-closing trial balance?          a. Insurance expense       b. Prepaid expense       c. Drawing       d. Fees Earned

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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