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3 years ago

Bali Sales Company experienced the following events:

Business

1 answer:

Amanda [17]3 years ago

6 0

Answer:

Bali Sales Company

Identifying events as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE):

Event Type Assets = Liab. + Equity Rev. - Exp. = Net Inc. Cash Flow Type

1. AE + - = NA + NA NA - NA = NA -0A

2. CE + = + + NA NA - NA = NA -OA

3. CE - = - + NA NA - NA = NA +OA

4a. AS + = NA + + + - NA = + +OA

4b. AU - = NA + - NA - + = - -OA

5. CE - = - + NA NA - NA = NA -OA

6a. AS + = NA + + + - NA = + +OA

6b. AU - = NA + - NA - + = - -OA

7. AU - = NA + - NA - - = - -OA

8. AU - = NA + - NA - - = - -OA

9. AE +- = NA + NA NA - NA = NA -OA

10. AU - = NA + - NA - - = - -OA

Explanation:

All the events are classified under operating activities for the cash flow type. There are no investing activities (IA) nor financing activities (FA) in any of the events listed. The workings above show the accounting equation in operation as it affects elements of the financial statements.

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Answer:

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