The following is a list of business/accounting events. In each case, state the immediate effect (increase, decrease
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The following is a list of business/accounting events. In each case, state the immediate effect (increase, decrease or none) on both profit and cash:
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1 Repayment of borrowings 2 Making a profitable sale on credit 3 Buying a non-current asset on credit 4 Receiving cash from a credit customer (trade receivable) 5 Depreciating a non-current asset 6 Buying some inventories for cash 7 Making a share issue for cash Effect on profit on cash
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1 Repaying borrowings requires that cash be paid to the lender This means that two figures in the st...View the full answer
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Related Book For
Accounting And Finance For Non Specialists
ISBN: 9781292334691
12th Edition
Authors: Peter Atrill, Eddie McLaney
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