A company reported the following transactions during the most recent period Show the financial statement effects of each transaction If an item is not impacted, select no net change a January 2 Issued $290,000 in common stock in exchange for $209,000 in cash and $81,000 in property, plant, and equipment Balance Sheet Income Statement Assets Liabilities Equity Net Income Select No net change , Decreases by $290,000 , Increases by $290,000 Select Decreases by $209,000 , No net change , Increases by $209,000 Select No net change , Increases by $290,000 , Decreases by $290,000 Select Decreases by $209,000 , Increases by $209,000 , No net change b January 3 Paid $17,000 for rent of office building during the current month Balance Sheet Income Statement Assets Liabilities Equity Net Income Select Decreases by $17,000 , Increases by $17,000 , No net change Select Increases by $17,000 , No net change , Decreases by $17,000 Select Decreases by $17,000 , No net change , Increases by $17,000 Select Decreases by $17,000 , No net change , Increases by $17,000 c January 6 Provided services to a customer and immediately received $3,500 cash for the services Balance Sheet Income Statement Assets Liabilities Equity Net Income Select Increases by $3,500 , Decreases by $3,500 , No net change Select Increases by $3,500 , No net change , Decreases by $3,500 Select Decreases by $3,500 , No net change , Increases by $3,500 Select Decreases by $3,500 , Increases by $3,500 , No net change d January 12 Paid dividends of $4,900 to shareholders Balance Sheet Income Statement Assets Liabilities Equity Net Income Select Increases by $4,900 , No net change , Decreases by $4,900 Select Increases by $4,900 , No net change , Decreases by $4,900 Select No net change , Decreases by $4,900 , Increases by $4,900 Select Decreases by $4,900 , No net change , Increases by $4,900 e January 17 Provided services to a customer and sent a bill for $9,000 to the customer with payment due within 60 days Balance Sheet Income Statement Assets Liabilities Equity Net Income Select Decreases by $9,000 , Increases by $9,000 , No net change Select Decreases by $9,000 , No net change , Increases by $9,000 Select Decreases by $9,000 , No net change , Increases by $9,000 Select No net change , Decreases by $9,000 , Increases by $9,000 f January 28 Paid employee salaries of $17,700 for work performed during the current month Balance Sheet Income Statement Assets Liabilities Equity Net Income Select Increases by $17,700 , Decreases by $17,700 , No net change Select Decreases by $17,700 , Increases by $17,700 , No net change Select No net change , Increases by $17,700 , Decreases by $17,700 Select Decreases by $17,700 , Increases by $17,700 , No net change g January 30 Received $3,600 cash as partial payment of the amount owed from the customer previously billed on January 17 Balance Sheet Income Statement Assets Liabilities Equity Net Income Select Increases by $3,600 , Decreases by $3,600 , No net change Select Increases by $3,600 , No net change , Decreases by $3,600 Select Increases by $3,600 , Decreases by $3,600 , No net change Select Decreases by $3,600 , Increases by $3,600 , No net change h January 31 Purchased $1,000 in supplies on account Balance Sheet Income Statement Assets Liabilities Equity Net Income Select No net change , Increases by $1,000 , Decreases by $1,000 Select Decreases by $1,000 , No net change , Increases by $1,000 Select Increases by $1,000 , Decreases by $1,000 , No net change Select Decreases by $1,000 , No net change , Increases by $1,000

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A company reported the following transactions during the most recent period. Show the financial statement effects of each transaction. If an item is not impacted,

A company reported the following transactions during the most recent period. Show the financial statement effects of each transaction. If an item is not impacted, select no net change.

a. January 2: Issued $290,000 in common stock in exchange for $209,000 in cash and $81,000 in property, plant, and equipment.

Balance Sheet						Income Statement
Assets	=	Liabilities	+	Equity		Net Income
[ Select ] ["No net change", "Decreases by $290,000", "Increases by $290,000"]		[ Select ] ["Decreases by $209,000", "No net change", "Increases by $209,000"]		[ Select ] ["No net change", "Increases by $290,000", "Decreases by $290,000"]		[ Select ] ["Decreases by $209,000", "Increases by $209,000", "No net change"]

b. January 3: Paid $17,000 for rent of office building during the current month.

Balance Sheet						Income Statement
Assets	=	Liabilities	+	Equity		Net Income
[ Select ] ["Decreases by $17,000", "Increases by $17,000", "No net change"]		[ Select ] ["Increases by $17,000", "No net change", "Decreases by $17,000"]		[ Select ] ["Decreases by $17,000", "No net change", "Increases by $17,000"]		[ Select ] ["Decreases by $17,000", "No net change", "Increases by $17,000"]

c. January 6: Provided services to a customer and immediately received $3,500 cash for the services.

Balance Sheet						Income Statement
Assets	=	Liabilities	+	Equity		Net Income
[ Select ] ["Increases by $3,500", "Decreases by $3,500", "No net change"]		[ Select ] ["Increases by $3,500", "No net change", "Decreases by $3,500"]		[ Select ] ["Decreases by $3,500", "No net change", "Increases by $3,500"]		[ Select ] ["Decreases by $3,500", "Increases by $3,500", "No net change"]

d. January 12: Paid dividends of $4,900 to shareholders.

Balance Sheet						Income Statement
Assets	=	Liabilities	+	Equity		Net Income
[ Select ] ["Increases by $4,900", "No net change", "Decreases by $4,900"]		[ Select ] ["Increases by $4,900", "No net change", "Decreases by $4,900"]		[ Select ] ["No net change", "Decreases by $4,900", "Increases by $4,900"]		[ Select ] ["Decreases by $4,900", "No net change", "Increases by $4,900"]

e. January 17: Provided services to a customer and sent a bill for $9,000 to the customer with payment due within 60 days.

Balance Sheet						Income Statement
Assets	=	Liabilities	+	Equity		Net Income
[ Select ] ["Decreases by $9,000", "Increases by $9,000", "No net change"]		[ Select ] ["Decreases by $9,000", "No net change", "Increases by $9,000"]		[ Select ] ["Decreases by $9,000", "No net change", "Increases by $9,000"]		[ Select ] ["No net change", "Decreases by $9,000", "Increases by $9,000"]

f. January 28: Paid employee salaries of $17,700 for work performed during the current month.

Balance Sheet						Income Statement
Assets	=	Liabilities	+	Equity		Net Income
[ Select ] ["Increases by $17,700", "Decreases by $17,700", "No net change"]		[ Select ] ["Decreases by $17,700", "Increases by $17,700", "No net change"]		[ Select ] ["No net change", "Increases by $17,700", "Decreases by $17,700"]		[ Select ] ["Decreases by $17,700", "Increases by $17,700", "No net change"]

g. January 30: Received $3,600 cash as partial payment of the amount owed from the customer previously billed on January 17.

Balance Sheet						Income Statement
Assets	=	Liabilities	+	Equity		Net Income
[ Select ] ["Increases by $3,600", "Decreases by $3,600", "No net change"]		[ Select ] ["Increases by $3,600", "No net change", "Decreases by $3,600"]		[ Select ] ["Increases by $3,600", "Decreases by $3,600", "No net change"]		[ Select ] ["Decreases by $3,600", "Increases by $3,600", "No net change"]

h. January 31: Purchased $1,000 in supplies on account.

Balance Sheet						Income Statement
Assets	=	Liabilities	+	Equity		Net Income
[ Select ] ["No net change", "Increases by $1,000", "Decreases by $1,000"]		[ Select ] ["Decreases by $1,000", "No net change", "Increases by $1,000"]		[ Select ] ["Increases by $1,000", "Decreases by $1,000", "No net change"]		[ Select ] ["Decreases by $1,000", "No net change", "Increases by $1,000"]