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ldentify whether each of the following transactions is an asset source (AS), asset use (AU), asset exchange (AE), or clalms exchange CE). Also show the
ldentify whether each of the following transactions is an asset source (AS), asset use (AU), asset exchange (AE), or clalms 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 (D), or does not affect (NA) each element of the financial statements. In the Cash Flows column, designate the cash flows as operating activities (OA), Investing activities (A), or financing activities (FA), or does not affect (NA). The first two transactions have been recorded as examples. a. Provided services and collected cash. b. Purchased supplles on account to be used In the future c. Pald cash In advance for one year's rent d. Pald cash to purchase land. e. Pald a cash dividend to the stockholders. f. Recelved cash from the Issue of common stock. g. Pald cash on accounts payable h. Collected cash from accounts recelvable I. Recelved cash advance for services to be provided In the future J. Incurred other operating expenses on account. k. Performed services on account. l. Adjusted books to reflect the amount of prepald rent explred during the period. m. Pald cash for operating expenses. n. Adjusted the books to record the supplies used during the perlod. o. Recorded accrued salaries. p. Pald cash for salaries accrued at the end of a prior perlod. q. Recorded accrued Interest revenue earned at the end of the accounting period. Horizontal Statements Mo Stockholders' Equity Income Statement AssetsLiabilities +Common Statement of Cash Flows Event No. Net Income Retained Stock Earnings nue-Expense AS NA + NA - NA OA AS + NA +NA - NA NA C
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