Indicate the effect (increase, decrease, or no effect) each of the following transactions would have on a
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Indicate the effect (increase, decrease, or no effect) each of the following transactions would have on a company’s cash flow and net income:
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Transaction 1. Purchased supplies on account 2. Issued common shares 3. Received loan proceeds 4. Received a deposit from a customer 5. Payment of dividends 6. Made cash sales 7. Paid accounts payable owing to a supplier 8. Cash purchase of inventory Effect on Cash Flow Effect on Net Income
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Related Book For
Understanding Financial Accounting
ISBN: 9781119715474
3rd Canadian Edition
Authors: Christopher D. Burnley
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