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Analyze the effect of the 18 transactions on the financial statement categories indicated. Liabilities Net Income Owners' Equity No net effect 1. Increase Increase No
Analyze the effect of the 18 transactions on the financial statement categories indicated. Liabilities Net Income Owners' Equity No net effect 1. Increase Increase No net effect Transactions Purchased Inventory for $80,000 on account (assume perpetual system is used). 2. Issued an $90,000 note payable in payment on account (see item 1 above) Recorded accrued interest on the note from item 2 above. Increase No net effect No net effect No net effect 1 Increase No net effect No net effect No net effect 4. Borrowed $100.000 from the bank by signing a 6 month, $112.000. zero-interest-bearing note No net effect Increase No net effect Na nawet 5. Recognized 4 months Interest expense on the note from item 4 above v v v V Recorded cash sales of $25.266, which includes sales tax. Recorded wage expense of p5.000. The cash paid was $25,000; the difference was due to various v amounts withhold. 8. Recorded employer's payroll taxes Accrued accumulated vacation pay 10. Recorded an asset retirement obligation. > 11. Recorded bonuses due to employees. > SPM
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