ABE 351: Financial Management in Ag Fall 2020 [Short Assignment -03 (due 15 Sept). Total pts = 30] Table 1: Identify the broad categories and the respective financial statement. (see note] Financial Statement(s) Category 1. Business checking account 2. Walmart shares 3. Advance insurance payment 4. Veggies' sold 5. Interest expense on operating loans 6. Beef cattle ready for sale 7. Farm wages to be paid next week 8. Loan to purchase Combine Harvester 9. Check received from a retailer for supplying organic veggies 10. Purchased Breeding Livestock on cash Note: IS - Income st A = Assets L = Liabilities E = Expense R = Revenue OE = Owner's equity B/S = Balance sheet 11:17 2 ABE 351: Financial Management in Ag Fall 2020 (Short Assignment -03 (due 15 Sept). Total pts = 30] Fill the empty cells (with ??) in the following two tables. Table 2: L PIC RE Beginning 17,300 ?? 0 7,200 Change -700 ?? 0 500 Ending ?? 8,900 0 ?? v 11:18 Office Editing for Docs, Sheets & Slides chrome extension://bpmcpldpdmajfigpchkicefoigmkfalc/views/app.html dentifying A-Cs_Eqn_Due15Sept2020 Modified.docx Format Tools Help Download Normal B TU A - A - Table 3: Work out the net effect on A, L & OE of the transactions below. Transaction Assets = Liabilities + Owner Equity 1) Deposited $5,000 in bank account. Church members contributed (with no obligation to pay back) towards farm improvement. 2) Purchased 10 Walmart shares on cash 3) Made advance farm insurance payment for the next 3 months 4) Sold veggies' to Schnucks store on account 5) Paid interest expense on operating loans 6) Beef cattle put up for sale 7) Farm wages were paid 8) Obtained loan to purchase Combine Harvester with no down payment 9) Check received from a retailer for supplying organic veggies 10) Purchased Breeding Livestock on account O