Describe common transactions affecting balance sheet accounts that use cash. Explain how these items are analysed to

Question:

Describe common transactions affecting accounts that use cash. Explain how these items are analysed to identify cash flows that have occurred during the year.
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...