Listed below are items that a corporation gave up in order to receive cash For each item listed in the first column, describe the effect on the elements of each financial statement using the format shown in the example on the first line Indicate (NE) for no effect Item given up in order to receive cash Changes in the Balance Sheet Effect on Net Income on the Income Statement Results in a Change in Owner Value (YES or NO) Example Land that originally cost the corporation an amount less than the cash received This transaction was not in the primary course of business Cash (Increase) Land (Decrease) R E (Increase Through a Gain) Increase YES Land that originally cost the corporation an amount equal to the cash received This transaction was not in the primary course of business Cash (Increase) A service Cash (Increase) A promise to deliver a non cash asset or service at a later date Cash (Increase) A promise to repay cash at a later date to a bank Cash (Increase) A share of stock that provides the owner investor with a claim to a proportionate share of the net assets of the corporation The stock was issued above its par value Cash (Increase)

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Listed below are items that a corporation gave up in order to receive cash . For each item listed in the first column, describe the

Listed below are items that a corporation gave up in order to receive cash. For each item listed in the first column, describe the effect on the elements of each financial statement using the format shown in the example on the first line. Indicate (NE) for no effect

Item given up in order to receive cash:	Changes in the Balance Sheet	Effect on Net Income on the Income Statement	Results in a Change in Owner Value (YES or NO)
Example: Land that originally cost the corporation an amount less than the cash received. This transaction was not in the primary course of business.	Cash (Increase) Land (Decrease) R/E (Increase Through a Gain)	Increase	YES
Land that originally cost the corporation an amount equal to the cash received. This transaction was not in the primary course of business.	Cash (Increase)
A service.	Cash (Increase)
A promise to deliver a non-cash asset or service at a later date.	Cash (Increase)
A promise to repay cash at a later date to a bank.	Cash (Increase)
A share of stock that provides the owner/investor with a claim to a proportionate share of the net assets of the corporation. The stock was issued above its par value.	Cash (Increase)