Part 2: Transaction Analysis and Financial Statement Impacts Unlimited Fun is a new business that hosts children's birthday parties. Analyze each of the following January transactions by identifying which accounts are impacted and how the financial statements are affected. Record each transaction in the horizontal financial statements model. The first transaction is completed for you as an example. 1. Unlimited Fun received $65,000 cash from Rachel, the owner, and issued common stock. Balance Sheet Income Statement Stmt. of Cash Flows Assets Liabilities + Acct. Acct. Salaries Stockholders' Equity Common Cash +Receiv. +Supplies + Equip.= Pay. + Pay. + 65,000 Retained Stock + Earnings 65,000 Net Revenue Expenses = Income Cash Flow 65,000 FA 2. Unlimited Fun purchased a $1,900 computer. Unlimited Fun paid $900 in cash and received an invoice for the remaining balance. (Hint: This transaction impacts three accounts.) Balance Sheet Income Statement Stmt. of Cash Flows Assets = Liabilities + Stockholders' Equity Acct. Cash +Receiv. +Supplies + Equip.= Acct. Pay. + Pay. Salaries + Common Stock Retained +Earnings Net Revenue Expenses = Income Cash Flow 3. Unlimited Fun purchased receipt paper and pens totaling $200 and charged the purchase on account from Office Oracle. Balance Sheet Income Statement Stmt. of Cash Flows Assets Liabilities + Stockholders' Equity Acct. Acct. Cash +Receiv. +Supplies + Equip. |= Salaries Pay. + Pay. Common Retained Net + Stock + Earnings Revenue - Expenses = Income Cash Flow 2