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Written assignment 1 (Ch 2 Journal Entries) Ogg Company engages in the following external transactions for November. 11/2 11/10 11/12 11/20 11/31 Purchase equipment
Written assignment 1 (Ch 2 Journal Entries) Ogg Company engages in the following external transactions for November. 11/2 11/10 11/12 11/20 11/31 Purchase equipment in exchange for cash of $22,300. Provide services to customers and receive cash of $5,700. Pay the current month's rent of $1,400. Purchase office supplies on account for $1,600. Pay employee salaries of $2,300 for the current month. Requirement 1: Analyze the transaction and write down the impact of each transaction on items in the balance sheet, income statement and cash flow statement. Balance Sheet Income Statement CF Assets = Liabilities Common Stock Retained Earnings Revenue Expense Net Income Cash Flow (investing, Transaction 11/2: Equipment +22,300 Cash -22,300 operating, financing, NA) Investing -22,300
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