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Indicate on the chart below how current assets (CA), non-current assets (NCA), current liabilities (CL), non-current liabilities (NCL), and equity (E) are affected by each
Indicate on the chart below how current assets (CA), non-current assets (NCA), current liabilities (CL), non-current liabilities (NCL), and equity (E) are affected by each of the transactionn
Transaction | Assets | Liabilities | SE | ||||
CA | NCA | CL | NCL | ||||
Example: Prepaid marketing expenses of $2,150 | 0 | 0 | 0 | 0 | 0 | ||
1) | Paid general and administrative costs of $7,100 that had been accrued as liabilities. | ||||||
2) | Purchased $205 of short-term Investments. | ||||||
3) | Received $9,215 advances from customers for support and maintenance services to be delivered early next year. | ||||||
4) | Purchased $6,789 of inventories on account from vendors. | ||||||
5) | Purchased $411 of equipment on account from vendors. | ||||||
6) | Collected $7,999 of short-term financing receivables. | ||||||
7) | Paid the vendor for equipment invoice (see transaction 5). | ||||||
8) | Paid $6,214 of accounts payable. |
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