Exercise 1 - Financial Statement (Part 2)

Exercise 1 - Financial Statement (Part 2) - FINANCIAL...

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FINANCIAL STATEMENT EXERCISES (PART 2) Determine the before-tax impact of each business activity on the income statement, balance sheet and statement of cash flows.   For the income statement , identify the revenue and expense line items impacted and the direction in which net income would be impacted.   For the balance sheet , identify the asset, liability and equity accounts impacted and the direction in which each account would be impacted.  (NOTE:  Assume the balance sheet remains balanced at all times.)   For the statement of cash flows , identify the section of the statement of cash flows impacted (operating, investing or financing) and the direction in  which the “net” amount from that section would be impacted. For examples of how to answer each question, refer to the first two problems below. Impact on
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This note was uploaded on 01/24/2011 for the course FIA 111 taught by Professor Matta during the Spring '10 term at Hocking.

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Exercise 1 - Financial Statement (Part 2) - FINANCIAL...

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