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Analyze and Report Financial Statement Effects of Transactions Note: Use negative signs with answers when appropriate. Note: If an answer field is not needed, leave
Analyze and Report Financial Statement Effects of Transactions Note: Use negative signs with answers when appropriate.
Note: If an answer field is not needed, leave it blank not all answer fields will be used
tableTransactionBALANCE SHEET,INCOME STATEMENTtableCashAssettableNoncashAssetsLiabilities,tableContributedCapitaltableEarnedCapitalRevenues,Expenses,tableNetIncomea Issued stock for cash and PPE.,$$$$$$$$NANANANANANANAb Paid for rent.,,NANANANANANANAc Performed services for cash.,,NANANANANANANAd Performed services for on account.,,NANANANANANANAe Paid cash for wages.,,NANANANANANANAf Received cash on receivable.,,NANANANANANANAg Paid dividends.,,NANANANANANANA
M E Carter launched Carter Company, a professional services firm on March The firm will prepare financial statements at each monthend. In March its first month Carter executed the following
transactions. Enter the transactions, a through into the financial statement effects template shown in the module.
b The company paid $ cash for rent of office furnishings and facilities for March.
c The company performed services for clients and immediately received $ cash for these services.
d The company performed services for clients and sent a bill for $ with payment due within days.
e The company compensated an office employee with $ cash as salary for March.
f The company received $ cash as partial payment on the amount owed from clients in transaction d
g The company paid $ cash in dividends to Carter owner
Note: Use negative signs with answers when appropriate.
Note: If an answer field is not needed, leave it blank not all answer fields will be used
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