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financial analysis accounting READ THE FOLLOWING TRANSACTION CAREFULLY AND ANSWER THE QUESTIONS. ON DECEMBER 31, 2021, COMPANY ABC MADE A SALES CONTRACT WITH A REGULAR
financial analysis accounting
READ THE FOLLOWING TRANSACTION CAREFULLY AND ANSWER THE QUESTIONS. "ON DECEMBER 31, 2021, COMPANY ABC MADE A SALES CONTRACT WITH A REGULAR CUSTOMER COMPANY XYZ FOR 1,000 T-SHIRTS AT 1.00 KWD EACH. THE COST OF EACH T-SHIRT TO COMPANY ABC IS 250 FILS. COMPANY ABC DELIVERED 200 T-SHIRTS ONLY TO COMPANY XYZ ON THE SAME DAY, AND PROMISED TO DELIVER THE REST NEXT WEEK. COMPANY XYZ PAID ONLY HALF OF THE TOTAL CONTRACT AMOUNT ON THE SAME DAY, ANI PROMISED TO PAY THE REMAINING TWO MONTHS LATER. " Company ABC Sales revenue, Company ABC COGS. (25 pts). The effect of this transaction on the Net Income (2021) of Company ABC is KWD. (10 pts). The effect of this transaction on the Net Cash Flows (2021) of Company ABC is KWD. (10 pts). The effect of this transaction on the Total Assets (2021) of Company ABC is KWD. (10 pts). The effect of this transaction on the Total Liabilities (2021) of Company ABC is KWD. (10 pts). The effect of this transaction on the Net Cash Flows (2021) of Company XYZ is KWD. (10 pts) Step by Step Solution
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