Freeman Неyward Jones Ramirez Beginning of the year: Assets $ 900,000 $490,000 $115,000 (d) Liabilities 360,000 260,000 81,000 $120,000 End of the year: Assets 1,260,000 675,000 100,000 270,000 Liabilities 330,000 220,000 80,000 136,000 During the year: Additional investment in the business (a) 150,000 10,000 55,000 Withdrawals from the business 75,000 32,000 (c) 39,000 Revenue 570,000 (b) 115,000 115,000 Expenses 240,000 128,000 122,500 128,000

For each of the tollowing transactions or adjustments, indicate the effect of the transaction or adjustment on assets, liabilities, and net income by entering for each account affected the account name and amount and indicating whether it is an nddition () or a subtraction ( Transaction a has been done as an illustration. Net income is not affected by every transaction. In some cases, only one column may be affected because all of the specific accounts affected by the transaction are included in that category. a. Recorded $200 of depreciation expense. b. Sold land that had originally cost $9,000 for $14,000 in cash. c. Acquired a new machine under a financing lease. The present value of future lease payments, discounted at 10%, was $10,000. d. Recorded the first annuai payment of $2.200 for the leased machine (in part c). e. Recorded a $5,100 payment for the cost of developing and registering a trademark. f. Recognized periodic amortization for the trademark (in part e) using a 34-year…

Identify the financial statements on which each of the following items (titles, date descriptions, and accounts) appears by selecting "X" in the appropriate column. If an item appears on more than one statement, select "X" in every applicable column. Item Financing activities Ending common stock Interest expense As of (date) Land Beginning cash balance Notes payable Beginning common stock Service revenue Utility expense Stock issued Operating activities For the Period Ended (Date) Net income Investing activities Net loss Ending cash balance Salary expense Consulting revenue Cash payments for dividends Income Statement Statement of Changes in Stockholders' Equity Balance Sheet Statement of Cash Flows

Prepare an answer sheet with the column headings shown here. For each of the following transactions or adjustments, indicate the effect of the transaction or adjustment on the appropriate balance sheet category and on net income by entering for each account affected the account name and amount and indicating whether it is an addition (+) or a subtraction (-). Transaction a has been done as an illustration. Net income is not affected by every transaction. In some cases only one column may be affected because all of the specific accounts affected by the transaction are included in that category. a. Accrued interest revenue of $30 on a note receivable. b. Determined that the Allowance for Bad Debts account balance should be increased by $2,050. c. Recognized bank service charges of $22 for the month. d. Received $29 cash for interest accrued in a prior month. e. Purchased 3 units of a new item of inventory on account at a cost of $31 each. Perpetual inventory is maintained. f. Purchased…