The second step in the problem solving process is to clarify the issues of a problem.
Answer: The second step.
These are individuals, normally affluent, who inject capital for startups in exchange for ownership equality or convertible debt.
Answer:
In preparing a statement of cash flows under the indirect method, an increase in accounts payable would be reported or included as a(n):
source of cash.
Explanation:
Accounts payable are liabilities owed to suppliers for goods or services. They are listed on the balance sheet under current liabilities and on the cash flow statement under operating activities. When preparing the statement of cash flows, an increase in accounts payable is regarded as a source of cash while a decrease is regarded as a use of cash.
The effect of each transaction on the accounting equation is to be shown in the attachment below.
The following information should be considered:
- In the accounting equation, the total assets should be equivalent to the total liabilities & the shareholder equity.
- It determined the financial position, performance of the company.
- It is known as the presentation of the balance sheet.
In this way, the accounting equation should be prepared.
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