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The Szakos Company engaged in the following transactions during 2013: (20 points) a) Acquired $50,000 of cash by issuing common stock to owners Income Statement
The Szakos Company engaged in the following transactions during 2013: (20 points) a) Acquired $50,000 of cash by issuing common stock to owners Income Statement Balance Sheet CashInvent. +Equip. Comm Ret. Rev Stk. Eam. b) e) fl Total b) Paid $10,000 to acquire manufacturing equipment c) Paid $5,000 cash for materials used in production d) Paid $2,000 for wages of production workers e) Paid $8,000 in general, selling, and administrative costs f) Recognized $1,000 of depreciation on the manufacturing equipment g) Sold inventory for $18,000 cash h) The cost of the inventory sold was $6,500 Required Show the balance sheet and income statement effects of the transactions by completing the financial statement model provided
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