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 $33,600 on account has an estimated useful life of 4 years. One-month's depreciation on the equipment is unrecorded. b. An estimated utilities expense of $1,330 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 $33,600. Monthly statements are now being prepared. d. Taylor Medical Equipment provides medical equipment for rent. A local nursing home pays $23,520 in advance for three-months rental rental of hospital beds. At the end of the current period, one month has passed. Note: Use negative signs with answers, when appropriate. Balance Sheet Income Statement Stockholders' Equity Assets Liabilities + Revenues Expenses = Net Income Transaction a. To record depreciation. b. To record utilities. c. To record rent. d. To record revenue