Effect of journal entries on financial statements

Required
The preceding 13 different accounting events are presented in general journal format. Use a horizontal statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. Indicate whether the event increases (+), decreases (ˆ’), or does not affect (NA) each element of the financial statements. Also, in the Cash Flow column, use the letters OA to designate operating activity, IA for investing activity, and FA for financing activity.

The first event is recorded as anexample.

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Event No. Account Title Debit Credit Cash Common Stock Cash Service Revenue Prepaid Remt Cash XxX Accounts Receivable Service Revenue Cash Unearned Revenue Cash xXX Accounts Receivable KxX Supplies Salaries Expense Utilities Expense Supplies Expense Unearned Revenue Rent Expense Accounts Payable Cash Cash Supplies Service Revenue XxX 12 Prepaid Rent 13 Dividends Cash Assets = Liab. + Equity Rev. +NA Exp. = Net Inc. |Cash Flow NA NA NA + FA