Accounting%20Accrual%20and%20Transaction%20Analysis%20-%20Solution[1]

Accounting%20Accrual%20and%20Transaction%20Analysis%20-%20Solution[1]

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In Class Transaction Analysis Exercise –Solution 1. Financial Statement Elements Item (1) Account (2) Financial Statement Element (3) Placement on Financial Statement (4) Placement on Cash Flow Statement a. Cash Asset current assets Financing Activity Stock Investment by Shareholder’s (Equity) C- Stock Paid in capital b. Cash Asset current assets Financing Activity Bonds Payable Liability long-term liabilities c. Cash Asset current assets Investing Activity Building Asset Property, plant, and equipment d. Prepaid Insurance Asset Current asset Cash Asset Current assets Operating Activity e. Inventory Asset Current asset Accounts Payable Liability Current liability f. Accounts Receivable Asset Current asset Sales Revenue operating income Inventory Asset Current Asset Cost of Sales Expense Operating income g. Lawsuit payable Liability Current liability Loss on settlement of lawsuit Loss Other gains/losses h. Wages Payable
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This note was uploaded on 10/25/2011 for the course ACG 3341 taught by Professor Jomosankara during the Spring '09 term at FAU.

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Accounting%20Accrual%20and%20Transaction%20Analysis%20-%20Solution[1]

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