Identify how each of the following separate transactions 1 through 10 affects financial statements. For increases, place a "+" and the dollar amount in the column or columns. For decreases, place a "ˆ’" and the dollar amount in the column or columns. Some cells may contain both an increase (+) and a decrease (ˆ’) along with dollar amounts. The first transaction is completed as an example.
Required
a. For the balance sheet, identify how each transaction affects total assets, total liabilities, and total equity. For the income statement, identify how each transaction affects net income.
b. For the statement of cash flows, identify how each transaction affects cash flows from operating activities, cash flows from investing activities, and cash flows from financing activities.

a. b. Income Statement Balance Sheet Statement of Cash Flows Operating Investing Financing Actlvitles Total Total AssetsL +900 Total Llab. Equity Income Net Transactlon Activitles Actvitles 1Owner Invests $900 cash In business 2Recelves $700 cash for services provided +900 +900 3Pays $500 cash for employee wages 4 Incurs $100 legal costs on credit 5 Purchases $200 of supplies on credit 6 Buys equipment for $300 cash 7Pays $200 on accounts payable 8 Provides $400 services on credt 9 Owner withdraws $50 cash 10 Collects $400 cash on accounts recelvable