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13 Cards in this Set
- Front
- Back
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Issuing Common Stock
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(+) Cash, Common Stock, Cash Flow,
Financing Activity (FA) |
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Purchased Merchandise Inventory
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(+) Inventory
(-) Cash, Cash Flow Operating Activity (OA) |
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Selling Inventory
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(+) Cash, Retained Earnings, Revenue, Net Income, Cash Flow
Operating Activity (OA) |
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Costs of Goods Sold
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(-) Inventory, Retained Earnings, Net Income
(+) Expenses |
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For Selling & Administrative Costs
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(-) Cash, Retained Earnings, Net Income, Cash Flow
(+) Expenses Operating Activity (OA) |
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Purchase Land for a Place to locate a furniture store
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(-) Cash, Cash Flow
(+) Land Investing Activity (IA) |
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Issuing notes payable
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(+) Cash, Notes Payable, Cash Flow
Financing Activity (FA) |
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Purchased on account
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(+) Inventory, Accounts Payable
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Returned Inventory
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(-) Inventory, Accounts Payable
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Cash Discount
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(-) Inventory, Accounts Payable
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Paid balance due on accounts payable
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(-) Cash, Accounts Payable, Cash Flow
Operating Activities (OA) |
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Recognized revenue of cash sales of merchandise
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(+) Cash, Retained Earnings, Revenue, Net Income, Cash Flow
Operating Activity (OA) |
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Recognized cost of goods sold
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(-) Inventory, Retained Earnings, Net Income
(+) Expenses |
