Question

In: Accounting

Describe the changes in: a. Statement of financial position b. Statement of profit and loss c....

Describe the changes in:

a. Statement of financial position

b. Statement of profit and loss

c. Other comprehensive income

d. Statement of cash flows

in the following:

(1) Cost of services (COGS) has been $1000 less (paid) owing to increased effeciencies

(2) $500 has been paid off on a mortgage (Current)

(3) Equipment for $6000 has been bought on account

(4) Income had been $2000 higher owing to increased prices (Credit sales affected)

(5) A bill for $600 delivery services was recieved (not paid for)

(6) Equipment was depreciated by $700

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Expert Solution

ekkarill92 answered 1 year ago
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