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Fnewconnect.medication.com/252F Seved 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 effects 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 OS Total Assets +400 Balance Sheet Total Total Liabilities Equity -400 Income Statement of Cash Flow Statement Operating Investing Financing Income Activities Activibes Activitet -400 Net Transaction 1. Owner invests $400 cash in business 2. Receives $200 cash for services provided 3. Pays $320 cash for employee wages 4 Buys S450 of equipment on credit 5. Purchases $550 of supplies on credit 6. Buys equipment for $650 cash 7 Pays $490 on accounts payable 8. Provides 5690 services on credit 9 Owner withdraws $340 cash 10. Collects $715 cash on accounts receivable Prey 1 of 7 !!! Next >

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