Question #6: For each of the following independentcases:
a) Record the transaction using the accounting equation. Bespecific about account names & $ amounts.
b) Indicate the effect of each transaction on the Statement ofCash Flow (SCF). Specify which section(s) of the SCF thetransaction affects and in what direction. If there is no effect onthe SCF, write “no effect”.
- Recognized $41,000 of salaries & wages expenses. Paid$34,000 cash. The remainder is to be paid in the followingquarter.
|
Accounting Equation |
|
Statement of Cash Flow |
|
