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Fill in the spreadsheet a Complete the spreadsheet and then answer the questions in Canvas Individual Graded Assigment One For each of the following transactions
Fill in the spreadsheet
a Complete the spreadsheet and then answer the questions in Canvas Individual Graded Assigment One For each of the following transactions of a new cash-basis business for the month of June 2021, analyze the transaction with the spreadsheet (in the cash column indicate whether the item is from operations, investing, or financing) and answer the question on the last page. TREAT SUPPLIES and any other expense that covers more than one month AS A PREPAID ASSET. Issued stock for $85,000 cash. b Paid $4,750 for rent for current month. Bought $3,000 of supplies using credit. Bought $95,000 of equipment by paying $15,000 cash down and signing a d notes payable for the remaining amount. Borrowed $35,000 from First National Bank f Paid a $2,500 dividend to the shareholders. Paid $10,000 for 12 months of insurance. Make sure you read the red note g above. h Performed consulting services for $8,500 cash. Cash Flow Assets Event OA/A/FA Cash e Claims Common Stock Income Statement Expense Net Income Revenue Retained Earnings BB B C D E F H EB Assets = Claims =Step by Step Solution
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