ue? a.The balance in the revenue accounts after closing agrees with the revenue shown on the income statement b.The trail balance taken after closing can be used to prepare the statement of stockholders' equity and the balance sheet. c.The balance in the dividends account after closing agrees with the amount of dividends reported on the statement of stockholders' equity. d.The balance of Retained Earnings after closing agre

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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