Identify how each of the following separate transactions 1 t

Identify how each of the following separate transactions 1 through 10 affects financial statements. For increases, place a \"+\"and the dollar amount in the column or columns. For decreases, place a \"and the dollar amount in the column or columns. Some cells may contain both an increase (+) and a decrease () along with the dollar amounts. The first transaction is completed as an example Required a. For the balance sheet, identify how each transaction affects total assets, total liabilities, and total equity. For the income statement, identify how each transaction affects net income b. For the statement of cash flows, identify how each transaction affects cash flows from operating activities, cash flows from investing activities, and cash flows from financing activities a. b. Income Statement Balance Sheet Total AssetsLiabilities Equit Statement of Cash Flows Net Operating Investing Financing Income Activities Activities Activities Total Total Transaction 1. Owner invests $900 cash in businessin exchange for stock+900 2. Receives $700 cash for services provided 3. Pays $500 cash for employee wages 4. Incurs $100 legal costs on credit 5. Purchases $200 of supplies on credit 6. Buys equipment for $300 cash 7.Pays $200 on accounts payable 8. Provides $400 services 9. Pays $50 cash for dividends 10.Collects $400 cash on accounts receivable +900 +900 on credit

Solution

Balance Sheet Income Statement Statement of Cash Flowes Transaction Total Asset Total Liabilites Total Equity Net Income Operating Activies Investing Activities Financing Activities Owner Invest $ 900cash in business exchange for stock \"+900 \"+900 \"+900 Receive $700 cash for services provided \"+700 \"+700 \"+700 Pays $500 for Employees Wages \"-500 \"-500 \"-500 \"-500 incurrs $100 legal cost on credits \"+100 \"-100 \"+100 Purchase $200 on supply of credits \"+100 \"+100 \"+100 Buy Equipoment for $300 in cash \"+300 \"-300 Pays $200 on Account Payable \"-200 \"-200 \"-200 Provides $ 400 Service on Credit \"+400 \"+400 \"-400 Pays $50 cash for dividend \"-50 \"-50 Collect $ 400 cash on account receivable \"+400 \"+400