Question
Cullumber Company made the following transactions: 1. Payment of a $110 invoice on account. 2. Increase in the fair value of a Fair Value-Net Income
Cullumber Company made the following transactions:
| 1. | Payment of a $110 invoice on account. | |
| 2. | Increase in the fair value of a Fair Value-Net Income Investment by $170. | |
| 3. | Sale on account for $102. | |
| 4. | Purchase of equipment paid for with $460 cash and a $1,015 note payable. | |
| 5. | Increase in the fair value of a Fair Value-OCI Investment by $142. | |
| 6. | Repayment of a $1,810 bank loan. |
Indicate the effect of each of the transactions on (a) the basic accounting equation and (b) the expanded basic accounting equation.
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Guidelines For Auditing Process Safety Management Systems
Authors: CCPS (Center For Chemical Process Safety)
2nd Edition
0470282355, 978-0470282359
