Question #1: For each of the following independent cases: a) Record the transaction using the accounting...
Question #1: For each of the following independent cases:
a) Record the transaction using the accounting equation. Be specific about account names & $ amounts.
b) Indicate the effect of each transaction on the Statement of Cash Flow (SCF). Specify which section(s) of the SCF the transaction affects and in what direction. If there is no effect on the SCF, write “no effect”.
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Accounting Equation |
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Statement of Cash Flow |
Homework Answers
A)accounting equation
Assets = liabilities
Cash + account Recievable= liabilities
12,000+(12,000)= 0
B) Statment of cash flow
Cash flows from operating activities
Reciepts from customers 12,000
(effect) Increase in cash
Cash provided by operating activities = 12,000
Add Answer to:
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