i started an icecream company called chills and fruit in which iam the accountant/owner for this company. can you tell me if my company will be a service or merchandising business and describe the goods or services that my company will be selling. Lastly State the depreciation and any other (if applicable) accounting policies.

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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