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Table 1 summarizes many cash activities and the related financial statement accounts used to analyze

Table 1 summarizes many cash activities and the related financial statement accounts used to analyze

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Table 1  summarizes  many cash activities and the related financial statement accounts used to  analyze each listed activity  TABLE 1 Cash Activities and Corresponding Financial Statement Accounts Cash Flow Item Balance Sheet Account(s) Income Statement Account(s) Cash collections from customers Accounts receivable Credit sales * Cash sales to customers Cash sales * Proceeds from sale of equipment Equipment Accumulated depreciation Gain (loss) from sale of equipment Proceeds from bank loan
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Unformatted text preview: Notes payable Proceeds from sale of stock Common stock Payments to suppliers for merchandise Inventory Accounts payable Cost of goods sold Payments for operating expenses ** Accrued expenses, including wages Operating expenses Payments for income taxes Deferred income taxes Income tax expense Payments of interest Interest payable Interest expense Purchase of equipment Equipment Payment on loan Notes payable Payment of dividends Retained earnings...
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