Question: a . Acquired $ 6 0 , 3 0 0 of cash by issuing common stock to owners. b . Paid (
a Acquired $ of cash by issuing common stock to owners.
b Paid $ to acquire manufacturing equipment.
c Paid $ cash for materials used in production.
d Paid $ for wages of production workers.
e Paid $ in general, selling, and administrative costs.
f Recognized $ of depreciation on the manufacturing equipment.
g Sold inventory for $ cash.
h The cost of the inventory sold was $
Required:
Show the balance sheet and income statement effects of the transactions by completing the financial statement model provided.
Note: Enter any decreases to account balances with a minus sign. Leave cells blank if no input is needed.
begintabularccccccccccccccc
hline multicolumncHORIZONTAL FINANCIAL STATEMENTS MODEL
hline multirowbTransaction & multicolumncBalance Sheet & multicolumncIncome Statement
hline & Cash & & Inventory & & Equipment & & Common Stock & & Retained Earnings & Revenue & & Expense & & Net Income
hline a & & & & & & & & & & & & & &
hline b & & & & & & & & & & & & & &
hline c & & & & & & & & & & & & & &
hline d & & & & & & & & & & & & & &
hline e & & & & & & & & & & & & & &
hline f & & & & & & & & & & & & & &
hline g & & & & & & & & & & & & & &
hline h & & & & & & & & & & & & & &
hline Total & & & & & & & & & & & & & &
hline
endtabular
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