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    debfocus's Avatar
    debfocus Posts: 1, Reputation: 1
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    #1

    May 21, 2008, 12:36 PM
    Effects of the Income Statement
    How would the balance sheet, the income statement and the cash flow statement be affected if I took office supplies for my own use.

    I want to take a loan from the company on a note, which has no due date, how would those statements be affected.

    What if I ordered inventory on December 15 totaling $15,000 and wanted it delivered at the end of the year, but want the supplier to delay billing until January, how would those statements be affected.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    May 22, 2008, 05:46 PM
    Is this actually for homework, or are you just asking? When it's a real company, most people want to know how to record them, not how they affect the financial statements. But asking how things affect the statements is pretty common for homework.

    P.S. This is accounting, not finance.
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