Analyzing and Reporting Financial Statement Effects of Transactions M.E. Carter launched Carter Company, a professional services...

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Analyzing and Reporting Financial Statement Effects of Transactions M.E. Carter launched Carter Company, a professional services firm on March 1. The firm will prepare financial statements at each month-end. In March (its first month), Carter executed the following transactions. Enter the transactions, a through g, into the financial statement effects template below. a. Carter (owner) invested in the company $100,000 cash and $20,000 in property and equipment. The company issued common stock to Carter. b. The company paid $3,200 cash for rent of office furnishings and facilities for March. c. The company performed services for clients and immediately received $4,000 cash for these services. d. The company performed services for clients and sent a bill for $24,000 with payment due within 60 days. e. The company compensated an office employee with $4,800 cash as salary for March. f. The company recieved $10,000 cash as partial payment on the amount owed from clients in transaction d. g. The company paid $935 cash in dividends to Carter (owner). Use negative signs with answers, if appropriate. Balance Sheet Income Satement Transaction Cash Asset + a. Issued stock for cash and PPE. b. Paid rent. c. Performed services for cash. 100,000 Noncash Assets 20,000 Contrib. = Liabilities + Capital + Earned Capital Revenues Expenses = Net income 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 d. Performed services on account. 0 0 0 0 0 0 0 0 e. Paid wages. 0 0 0 0 0 0 0 0 f. Received payments on accounts receivable. 0 0 0 0 0 0 0 0 g. Paid dividends 0 0 0 0 0 0 0 0 Analyzing and Reporting Financial Statement Effects of Transactions M.E. Carter launched Carter Company, a professional services firm on March 1. The firm will prepare financial statements at each month-end. In March (its first month), Carter executed the following transactions. Enter the transactions, a through g, into the financial statement effects template below. a. Carter (owner) invested in the company $100,000 cash and $20,000 in property and equipment. The company issued common stock to Carter. b. The company paid $3,200 cash for rent of office furnishings and facilities for March. c. The company performed services for clients and immediately received $4,000 cash for these services. d. The company performed services for clients and sent a bill for $24,000 with payment due within 60 days. e. The company compensated an office employee with $4,800 cash as salary for March. f. The company recieved $10,000 cash as partial payment on the amount owed from clients in transaction d. g. The company paid $935 cash in dividends to Carter (owner). Use negative signs with answers, if appropriate. Balance Sheet Income Satement Transaction Cash Asset + a. Issued stock for cash and PPE. b. Paid rent. c. Performed services for cash. 100,000 Noncash Assets 20,000 Contrib. = Liabilities + Capital + Earned Capital Revenues Expenses = Net income 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 d. Performed services on account. 0 0 0 0 0 0 0 0 e. Paid wages. 0 0 0 0 0 0 0 0 f. Received payments on accounts receivable. 0 0 0 0 0 0 0 0 g. Paid dividends 0 0 0 0 0 0 0 0