it says its incomplete so I was just wondering what I missed Identify how each of the following separate transactions through 10 affects financial statements. For increases, place a "+" and thedollar amount in the column or columns. For decreases, place a "-" and the dollar amount in the column or columns. Some cells maycontain both an increase (+) and a decrease (-) along with 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 investingactivities, and cash flows from financing activities.Transaction1. Owner invests $525 cash in business in exchange for stock2. Receives $325 cash for services provided3. Pays $445 cash for employee wages4. Buys $575 of equipment on credit5. Purchases $675 of supplies on credit6. Buys equipment for $775 cash7. Pays $615 on accounts payable8. Provides $815 of services on credit9. Pays $465 cash in dividends10. Collects $840 cash on accounts receivableTotalAssets+525+325-445+575+675+/-775-615+815-465+/-840Balance SheetTotalLiabilities+575+675-615TotalEquity+525+325-445+815465IncomeStatementNetIncome+325-445+815b.Statement of Cash FlowsOperating Investing FinancingActivities Activities Activities+525+325-445+840-775-615-465

The computation balance sheet is prepared to show the assets, liabilities, and shareholders' funds.…

Answered: it says its incomplete so I was just…

Business

Accounting

it says its incomplete so I was just wondering what I missed

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Identify how each of the following separate transactions 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 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 cq- A1 P1 uity. 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 ac- tivities, cash flows from investing activities, and cash flows from financing activities. 2 3 4 5 6 7 8 9 10 Transaction Owner invests $800 cash in business in exchange for stock Purchases $100 of supplies on credit Buys equipment for $400 cash Provides services for $900 cash Pays $400 cash for rent…
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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 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. Transaction 1. Owner invests $675 cash in business in exchange for stock 2. Receives $475 cash for services provided 3. Pays $595 cash for employee wages 4. Buys $725 of equipment on credit 5. Purchases $825 of…
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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 dollar amounts. The first transaction is completed as an example.
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