Problem 1
Part A. Demonstrate the transaction analysis for QWE Company regarding the following transactions for the month of March. Indicate the account affected by the transaction as well as the increase (+) or decrease (-) to the components of the accounting equation and the amount.
Part B. Determine whether the transactions A-F above affected cash flows during March. If so, determine the type of activity as an operating activity, an investing activity, or a financing activity. If cash is not affected use "no effect." Place an X under the appropriate column for each transaction.
|
Problem 2
Libby Inc. has provided the following information pertaining to the month ended October 31, 2014:
Prepare an income statement through operating income for the month ended October 31, 2014.
|
Share with your friends: |