Weida Surverying Inc provides land serveying services. During September its transactions included the following:

Sept. 1. Paid rent for the month of September, $4,400

Sept. 3. Billed Fine Line Homes $5,620 for surveying service. The entire amount is due on or before September 28th.

Sept. 9. Provided surveying services to sunset ridge developments for $2,830. Entire amount collected on this date.

Sept. 14. Placed a newspaper advertisement in the Daily Item to be published in the September 20th issue. The cost of the advertisement was $165. Payment is due in 30 days.

Sept. 25. Recieved a check for $5,620 from Fine Line homes for the amount billed on September 3rd.

Sept. 26. Provided surveying services to Thompson Excavating Company for $1,890. Weida collected $400 cash, with the balance due in 30 days.

Sept. 29. Sent a check to the Daily Item in full payment of the liability incurred on September 14th.

Sept. 30. Declared and paid a $7,600 cash dividend to the company's stockholders.

Instructions

a. Analyze the effects that each of these transactions will have on the following six components of the company's financial statements for the month of September. Organize your answer in tabular form, using I for increase, D for decrease, and NE for no effect. Income Statement- Revenue - Expenses = Net Income Balance Sheet - Assets = liabilities + Owners Equity

b. Prepare a journal entry for each of the above transactions.

c. Three of Semptember's transactions involve cash payments, yet only one of these transactions is recored as an expense. Describe 3 situations in which a cash payment would NOT involve recognition of an expense.