Question: Complete the below table indicating (a) whether each transaction increases ( + ), decreases (), or has no effect on cash: (b) what other account

Complete the below table indicating (a) whether each transaction increases ( + ), decreases (), or has no effect on cash: (b) what other account beside Cash is affected in the transaction; and (c) whether the transaction should be classified as an operating activity. investing activity, financing activity, or noncash investing and financing activity. The first one has been done for you as an example. Alist of transactions is below: (a) (b) (c) Cash Noncash Account Classification 1. Fuided services. to a customet. Service revenue Operating activity 2. Repaida bankloan. 3. Paid interest on the bank loan. 4. Purchased equipenent Collected one of 5. the accounts receivable. 6. Paid employees. 7. Paid dirvidends: previously declared. 8. Is sued common shares. 9. Sold merchandise to a customer. Purchased land by 10. issuing common shares
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
