Changes in the Elements of Financial Statements Joe's Bar & Grill You do accounting for Joe's Bar and Grill Put "I"' for increase, D" for decrease, and "NE" for No Effect TOTAL OWNERS EQUITY TOTAL LIABILITIES Cash Flow OPERATING Cash Flow INVESTING Cash Flow FINANCING TOTAL Revenue Expenses Net & Gains & Losses Income ASSETS your chart TOTAL is company doing well, people want Common shares are exchanged for equipment if no cash insolu disclosed on the ne 1200 NH NE NE No 1200 N5 NE NE Dr Cr Equipment Common Stock 1 1200 + 1200 1 100 +100 WE WE +1000 + 160 WE Joe's Bar and Grill sells thirty cases of beer to the local Liberal Party Organization for cash. Dr Cash 1000 Cr Sales Revenue 1000 +10000 I 1 900 +900 Dr Cr Cost of Goods Sold Beer Inventory 900 1 Molly is fired by Joes' Bar and Grill because she mistreated a customer who is a good friend of Joe. Molly apologizes and returns some of her pay to Joe's Bar and Grill Dr Cash 200 Cr Wages Expense 200 +200 12 +200 taos NE -206 D NE I I 1 NB WE I An asset is retired after the end of it's useful life Dr Accum. Depreciation 750 Cr Equipment 750 wt No NE NE NE But WE WE