Transaction Analysis and Adjustments For each of the following unrelated situations, determine the financial statement effect using the Transaction Analysis Template: a. Equipment purchased at the beginning of the month for $19,200 on account has an estimated useful life of 5 years. One-month's depreciation on the equipment is unrecorded. b. An estimated utilities expense of $872 has been incurred in the current month, but the utility bill has not been received. c. On the first day of the current month, payment was made for four months rent in advance in the amount of $12,800. Monthly statements are now being prepared for the current month end. d. Taylor Medical Equipment provides medical equipment for rent. A local nursing home pays $5,760 in advance for a three-month rental of hospital beds. At the end of the current period, one month has passed. Note: Use negative signs with answers, when appropriate. Transaction a. To record depreciation. b. To record utilities. c. To record rent. d. To record revenue. Check Save Answers Balance Sheet Assets = Liabilities Stockholders' Equity Revenues Income Statement Expenses = Net Income