Question
View Policies Current Attempt in Progress For each of the following transactions, indicate how (i) net earnings and (ii) cash flows are affected. For
View Policies Current Attempt in Progress For each of the following transactions, indicate how (i) net earnings and (ii) cash flows are affected. For each transaction, enter the amount, (if any) as an increase or as a decrease. If there is no effect, enter "0". (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses eg. (45). Do not leave any answer field blank. Enter O for amounts.) a. Took out a loan for $135,000. b. Purchased equipment for $95,000, paying $38,000 cash and financing the balance with a one-year note payable. c. Purchased $36,000 of inventory from suppliers on account. d. Paid $1.200 for advertising. e. Sold inventory for $42,300 to customers, on account. The goods sold had cost $12,900. f. Paid $22,000 on the accounts owing to suppliers. & Paid employee wages of $5.400. h. Received payments of $28.900 from customers on their accounts. i. Declared and paid dividends of $2.100. Made a loan payment of $3,000 on the loan from transaction (a), of which $2,000 was repayment of loan principal and $1,000 was interest. k. Recorded depreciation of $1,900 on the equipment purchased in transaction (b). L Recorded $285 in interest owing on the one-year note payable from transaction (b). Effect on Net Earnings Effect on Cash Flow $ $
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