HW SA LO 2-6, 2-6, 2-2 2-8,2-0 Required Identity whether each of the following transactions is an asset source (AS), asseuse (AU), asset exchange (AE) or claims exchange (CE). Also show the effects of the events on the financial statements using the horizontal statements model indicate whether the event increases (1) decreases (O), or does not affect (NA) each element of the francial statements. In the Cash Flows column, designate the cash flow as operating activities (OA), Investing activities (A), or financing alvities (FA), or does not affect (NA). The first two transactions have been recorded as examples a Provided services and collected cash b. Purchased supplies on count to be used in the future Paid cash in advance for one year's rent. d. Pald cash to purchase and .. Paid a cash dividend to the stockholders 1. Received cash from the issue of common stock Paid cash on accounts payable Collected cash from accounts receivable Received cash advance for services to be provided in the future Incurred other operating expenses on account Adjusted books to reflect the amount of prepaid rent expired during the period. m. Pad cash for operating expenses n. Adjusted the books to record the supplies used during the period o Recorded acord salaries p. Paid cash for salaries accrued at the end of a prior period. Recorded accrued interest revenue eamed at the end of the accounting period Transaction Type Assets Horizontal Statements Model Stockholders' Equity Income Statement Liabilities Common Retained Stock Eninge Revenue - Expense Income NA NA NA NA NA NA NA NA AS AS Statement of Cash Flows IOA NA NA c d 0 h 0 HW Set LO 2-6, 2-6, 2-2, 2-8,26 incurred other operating expenses on account. Performed services on account Adjusted books to reflect the amount of prepaid rent expired during the period m. Paid cash for operating expenses. n. Adjusted the books to record the supplies used during the period Recorded accrued salaries D. Paid cash for salaries accrued at the end of a prior period, Recorded accrued interest revenue eamed at the end of the accounting period Transaction Type Assets Horizontal Statement Model Stockholders' Equity Income Statement Liabilities Common Statement of Cash Retained Net Stock Flows Revenue - Expense Earnings Income - NA NA NA NA NA NA NA NA NA NA 1 AS AS b. d + e + 1. + h. . . + K + + + m . + . 9 eBook & Resources eBook: Classify accounting events into one of four categories eBook Prepare financial statements that include deferrals