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*********
***********
** financial position ********* ******** ** **** *********
******
******** Statement
***********
** ****
Flows
*********** of ************* *******
***
financial ********* that *********
*****
*** ********** stands at a ******** **** *** a)Balance Sheet
******** ********** *********** **
****
****** ***********
**
************* *******
********
********* ** ** activity
statement
**** depicts the revenues
***
******** for * ********** ****** ** ***** ********* ****** ******** ********** *********** ** **** ****** *********** ** Owner’s
*******
4)A *********
************
important **
understanding
** ********** *** *******
**
investment *** ****** *********
is
********* ****** ******** ********** *********** of **** ****** *********** ** Owner’s ******* ******* ** *** *********
is
*** a
****
** ********
accounting
************* a)Store Manager
*******
executive
******** *********** ******* *********
********
6)Purpose of an ********** system includes *** of *** following ******** ***********
***
****** ***
*******
** business *************
**********
***
*******
** transactions to
**********
*** preparation of ******** *********** *** communicate information ** ******** *******
*********
the specific types ** ******** ************ **** ***
**********
*** ****** in
****** *********** would *** **** ** * *********
of
**** ***** **** you ***** not **
able
to *** **** ***** two ******* financial statements?
a)Cash ******** ** ** ****
**
********* activities
****** ******* ** the *** ** *** ******* ******* *********** *** ** creditors at *** *** ** *** ******* ***** Income
*** ***********
******
* *** *** decreases ** **** ***** ******
and
***** *********** **** *********** ***** **** ****** a)Purchase
**
* delivery ***** *** $15 *** ***** b)An ***** **** *
cost
** ***
000
was ********* by fire
*********** ** * $15 *** bank loan
d)Collection ** * *** *** account receivable
***********
**
*** ***** ** debit *** ****** *** balance sheet
********
:
a)Increase ** asset ********* *** ************* ****** accounts *** ******** by
*******
b)Decrease ** ***** *** liability ******** are
recorded
** ******** ********** in ***** and *************
******
accounts *** recorded by debits
********** ** ********* and ************* ****** ******** ***
********
** ******* 10)Indicate *** ******* ******* Dividends
a)Decrease owners’ equity & ***
********
by ******** *** ******** ******** ********** net ******* ***** *
business
******** ***** ** the ***** *******
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FIN621 Special 2016 Assignment FIN621 Quiz 1.docx
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