which financial statement elements apply to each item described below.

Item	Financial Statement Element for Account to be Debited	Financial Statement Element for Account to be Credited
A cash dividend is declared and paid to shareholders.	Equity	Current Assets
Cash is used to purchase a machine that will be used in the production process over the next five years.	Non-current Liabilities/Current Liabilities/Income - Revenue/Equity/Income - Gains/Non-current Assets/Expenses/Current Assets/Expenses - Loss	Non-current Liabilities/Current Liabilities/Income - Revenue/Equity/Income - Gains/Non-current Assets/Expenses/Current Assets/Expenses - Loss
Income taxes are calculated based on a company's profit. The taxes will be paid next year.	Non-current Liabilities/Current Liabilities/Income - Revenue/Equity/Income - Gains/Non-current Assets/Expenses/Current Assets/Expenses - Loss	Non-current Liabilities/Current Liabilities/Income - Revenue/Equity/Income - Gains/Non-current Assets/Expenses/Current Assets/Expenses - Loss
A shareholder invests money in a business in exchange for issued shares.	Non-current Liabilities/Current Liabilities/Income - Revenue/Equity/Income - Gains/Non-current Assets/Expenses/Current Assets/Expenses - Loss	Non-current Liabilities/Current Liabilities/Income - Revenue/Equity/Income - Gains/Non-current Assets/Expenses/Current Assets/Expenses - Loss
An insurance settlement is received for a fully depreciated asset that was destroyed in a fire.	Non-current Liabilities/Current Liabilities/Income - Revenue/Equity/Income - Gains/Non-current Assets/Expenses/Current Assets/Expenses - Loss	Non-current Liabilities/Current Liabilities/Income - Revenue/Equity/Income - Gains/Non-current Assets/Expenses/Current Assets/Expenses - Loss
An allowance for doubtful accounts is established based on estimates of future uncollectible accounts.	Non-current Liabilities/Current Liabilities/Income - Revenue/Equity/Income - Gains/Non-current Assets/Expenses/Current Assets/Expenses - Loss	Non-current Liabilities/Current Liabilities/Income - Revenue/Equity/Income - Gains/Non-current Assets/Expenses/Current Assets/Expenses - Loss