Indicate the Effect That Each of the Following Transactions Has

question 34

Short Answer

Indicate the effect that each of the following transactions has on the cash balance.Use (I)for increase, (D)for decrease,and (N)for no change.
a)________ Increase in inventory,paid with cash
b)________ Sale of common stock for cash
c)________ Payment of dividends
d)________ Depreciation expense for the period
e)________ Payment of long-term debt
f)________ Loan of money to another company
g)________ Increase in Accounts Payable
h)________ Purchase of equipment on account

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Definitions:

Amendment

A formal change or addition proposed or made to a document, statute, or legal contract.

Veto

The power to unilaterally stop an official action, especially the enactment of legislation.

Enact

To make into law by official decree.

Congress

A national legislative body, primarily responsible for making laws.