Listed below are components of several transactions. Indicate whether a debit (dr) or credit (cr) would be required to record the component of the transaction.   Question 3 options:   Increase in Inventory.   Decrease in Equipment.   Decrease in Notes Payable.   Increase in Accounts Payable.   Increase in Common Stock.   Increase in Cash.

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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