$17$

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 $"-"$ and the dollar amount in the column or columns. Some cells may contain both an increase $(+)$ and a decrease $(-)$ along with dollar amounts. The first transaction is completed as an example.

$1$

points

eBook

References

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.

$\backslash$table$[[$Transaction$,.,$a$.,\{$

$\backslash$table$[[$Statement of Cash Flows$]]\}],[$Balance Sheet,$\backslash$table$[[$Income$],[$Statement$],[$Net$],[$Income$]]],[\backslash$table$[[$Total$],[$Assets$]],\backslash$table$[[$Total$],[$Liabilities$]],\backslash$table$[[$Total$],[$Equity$]],\backslash$table$[[$Operating$],[$Activities$]],\backslash$table$[[$Investing$],[$Activities$]],\backslash$table$[[$Financing$],[$Activities$]]],[1.$ Owner invests $$400$ cash in business in exchange for stock,,$+400,,+400,,,,+400],[2.$ Receives $$200$ cash for services provided,,$P,,,,?,,],[$Pays $$320$ cash for employee wages,,,,,,,HS$,],[4.$ Buys $$450$ of equipment on credit,,,,,,,,$],[5.$ Purchases $$550$ of supplies on credit,,,,,,,,$],[6$ Buys equipment for $$650$ cash,,,,,,,,$],[7.$ Pays $$490$ on accounts payable,,$-,,,,,,],[8.$ Provides $$690$ of services on credit,,,,,,,,$],[9.$ Pays $$340$ cash in dividends,,$-,,,,,,],[10.$ Collects $$715$ cash on accounts receivable,,,,,,,,$]]$