apter 1 i Identify how each of the following separate transactions 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. 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. Balance Sheet Income Statement Net Income Transaction Total Assets -525 Total Liabilities Total Equity -525 Statement of Cash Flows Operating Investing Financing Activities Activities Activities *525 Owner invests $525 cash in business in exchange for stock 2 Receives $325 cash for services provided 3. Pays $445 cash for employee wages 4. Buys $575 of equipment on credit 5. Purchases $675 of supplies on credit 6. Buys equipment for $775 cash 7. Pays 5615 on accounts payable 8. Provides $815 services on credit 9 Pays $465 cash for dividends 10. Collects $840 cash on accounts receivable Prey 1 of 128 Next >