Indicate the financial statement on which each of the following items appears: income statement, statement of owner's equity, or balance sheet. a. Supplies b. Supplies Expense c. Taxes Expense d. Taxes Payable e. Trucks f. Unearned Revenue g. Unearned Subscription Revenue h. Unearned Ticket Revenue i. Utilities Expense j. Utilities Payable k. Wages Expense 1. Wages Payable

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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