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Determine the financial effect on the balance sheet and income statement for each of the following independent events using the Transaction Analysis Template. a. Paid
Determine the financial effect on the balance sheet and income statement for each of the following independent events using the Transaction Analysis Template. a. Paid $8,000 to supplier for purchases made on account. b. Received cash for services rendered during the current month, $6,000. c. Paid wages for the week, $1,800. d. Paid interest on a note payable, $400. Note: Use negative signs with answers, when appropriate. Balance Sheet Income Statement Assets Liabilities + Stockholders' Equity 0 Revenues = Net Income Expenses 0 0 0 0 0 Transaction a. Paid supplier for purchases made on account. b. Received cash for services rendered. c. Paid wages for the week. d. Paid interest on a note payable. 0 0 0 0 0 0 0 0 0 0 0 0 O O 0 0 0 O
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