Show Balance Increases or Cash Inflows as +ve and Balance Decreases or Cash Outflows as -ve...

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Show Balance Increases or Cash Inflows as +ve and Balance Decreases or Cash Outflows as -ve Transaction Purchase $400 of Inventory with cash Sell Inventory worth $1400 Receive $2K (cash) for the sold goods Sell $5K of Product but receive only $4K cash (the rest is still owing) Purchase $800 of Inventory on Credit Pay a bill for $900 of inventory that you bought on credit Use $10,000 of your available Line of Credit Obtain outside investment of $50K Pay $500 in interest owing on a loan Pay off a $5K mortage (early) Record Depreciation for the period of $1K Pay your monthly rent of $3K Affects: Balance Sheet Account Amount Income Statement Account Amount Cash Flow Schedule Account Amount Show Balance Increases or Cash Inflows as +ve and Balance Decreases or Cash Outflows as -ve Transaction Purchase $400 of Inventory with cash Sell Inventory worth $1400 Receive $2K (cash) for the sold goods Sell $5K of Product but receive only $4K cash (the rest is still owing) Purchase $800 of Inventory on Credit Pay a bill for $900 of inventory that you bought on credit Use $10,000 of your available Line of Credit Obtain outside investment of $50K Pay $500 in interest owing on a loan Pay off a $5K mortage (early) Record Depreciation for the period of $1K Pay your monthly rent of $3K Affects: Balance Sheet Account Amount Income Statement Account Amount Cash Flow Schedule Account Amount

Answer rating: 100% (QA)

Transaction Analysis for a Big Box Retailer Transaction Affects Balance Sheet Amount Income Statemen... View the full answer