Using the following categories, indicate the effects of the following transactions. Note: Enter negative amounts with a minus sign. a. Sales on account were $760 and related cost of goods sold was $430. b. Issued 5,000 shares of $1 par value stock for $70,000 cash. Event a. b. b. Assets Accounts receivable Accrued expenses payable Accounts payable Liabilities Elements of Financial Statements (1) Expenses (2) Cash from operating activities (3) Losses (4) Assets (5) Revenues (6) Cash from financing activities (7) Gains 8) Owners' equity 9) Liabilities 10) Assets personally owned by a stockholder Select the appropriate financial statements that matches with the items. Cost of goods sold Financial Statements Income statement Cash flow statement None of the above Balance sheet Income statement Stockholders' Equity Cash flow statement Cash flow statement Cash flow statement Cash flow statement None of the above

Using the following categories, indicate the effects of the following transactions. Note: Enter negative amounts with a minus sign. a. Sales on account were $760 and related cost of goods sold was $430. b. Issued 5,000 shares of $1 par value stock for $70,000 cash. Event a. b. b. Assets Accounts receivable Accrued expenses payable Accounts payable Liabilities Elements of Financial Statements (1) Expenses (2) Cash from operating activities (3) Losses (4) Assets (5) Revenues (6) Cash from financing activities (7) Gains 8) Owners' equity 9) Liabilities 10) Assets personally owned by a stockholder Select the appropriate financial statements that matches with the items. Cost of goods sold Financial Statements Income statement Cash flow statement None of the above Balance sheet Income statement Stockholders' Equity Cash flow statement Cash flow statement Cash flow statement Cash flow statement None of the above

Name: answer in text and explain the reason in detail for all Using the foll
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Description: answer in text and explain the reason in detail for all Using the following categories, indicate the effects of the following transactions.Note: Enter negative amounts with a minus sign.a. Sales on account were $760 and related cost of goods sold was

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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