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1 (6 points) Give the proper account code for each of the cash transactions listed below. Operatlag expense Capital asset purchase 100 Operating income 600
1 (6 points) Give the proper account code for each of the cash transactions listed below. Operatlag expense Capital asset purchase 100 Operating income 600 200 Capital asset sale 700 300 Loan received 800 Loan repaid 400 Nonfarm income 900 900 700 300 600 100 800 Nonfarm expense 1. Borrowed $20,000 to buy a new farm pickup 2. Made the first monthly payment on the loan, $500 principal 3. Paid the interest on the loan, $200 4. Paid wages of $5,000 to workers for constructing a new machine shed 5. Paid tuition to WSU 6. Sold 50 tons of hay for $4,000 O Match which type of financial statement would be most useful for answering each of the following questions? Statement of cash flows Net income statement Net worth statement Statement of owner equity Net income statement 1. How much did your capital assets depreciate last year? 2. How much net farm income did the operation make last year? 3. Is the operation's solvency above average? 4. How much did the market value of farm assets change last year? 5. How much did the business borrow in new loans last year
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