dollar amount in the column or columns For decreases place a

dollar amount in the column or columns. For decreases, place a and the dollar amount in the column or columns as an identify how each transaction a 3 of 8

Solution

Balance Sheet Income Statement Statement of Cash Flows Transaction Total Assets Total Liab. Total Equity Net Income Operating Activities Investing Activities Financing Activities 1 Owner invests 900 cash for its stock (+) 900 (+) 900 (+) 900 2 Receives700 cash for services provided (+) 700 (+) 700 (+) 700 (+) 700 3 Pays 500 cash for employee wages (–) 500 (–) 500 (–) 500 (–) 500 4 Incurs legal costsof 100 on credit (+) 100 (–) 100 (–) 100 5 Borrows 200cash by signing long-term note payable (+) 200 (+) 200 (+) 200 6 Pays cash dividend $300 (–) 300 (–) 300 (–) 300 7 Buys land by signing note payable 200 (+)200 (+)200 8 Provides $400 services on credit (+)400 (+)400 (+)400 9 Buys office equipment for $ 50 cash (+/–) 50 (–) 50 10 Collects $400 cash on receivable from (8) (+/–) 400 (+)400