3F The following transactions occurred for Marsh Ltd (assume all beginning balances = 0) during the year ended 31 December 2022.

(a) Issued shares for $50 000 cash.

(b) Purchased $40 000 of inventory; paid $15 000 cash with the remainder on account.

(c) Sold $400 000 of products to customers on account; cost of goods sold was $240 000.

(d) Collected $120 000 cash from customers in point (c).

(e) Paid $50 000 in wages to employees during the year; at year-end wages of $8000 are owed to employees for work done in December 2022, to be paid in 2023.

(f) Earned $10 000 interest on investments, receiving 70 per cent in cash.

(g) Received an electricity bill in December 2022 for $4000 covering electricity charges for December 2022. The bill will be paid in January 2023.
(h) Paid $20 000 cash for supplies received during 2022. At year-end $7000 of supplies were still on hand (i.e., had not been used up).
(i) Declared and paid $10 000 in cash dividends to shareholders.
For each of the above transactions, events or facts, indicate the impact on revenues, expenses, assets and liabilities during 2022 by placing a + or – sign (+ for increase and – for decrease) to indicate direction in the appropriate box. Include dollar amounts. Write ‘NE’ if there is no effect.
Revenues Expenses Assets Liabilities a b c d e f g h i