Question: Analyzing Transactions using the Financial Statement Effects Template Report the effects for each of the following independent transactions using the financial statement effects template.
Analyzing Transactions using the Financial Statement Effects Template Report the effects for each of the following independent transactions using the financial statement effects template. Remember to use negative signs with your answers, when appropriate. Balance Sheet Noncash Transaction Cash Asset + Assets Contributed Liabilities + Capital Earned Capital Revenue Income Statement Expenses Net Income (a) Issue common stock for $30,000 cash. (b) Pay $3,000 rent in advance. (c) Purchase computer equipment for $10,500 cash. 0 + 0 = 0 + 0+ 0 0 0 + 0 = 0 + 0+ 0 0 0 + 0 = 0 + 0 + 0 0 (d) Purchase and receive $19,500 of inventory on account (i.e., pay supplier later). (e) Pay supplier of inventory in part (d). 0 + 0 0 + 0+ 0 0 0+ 0 0 + 0+ 0 0 ooooo 0 = 0 = 0 = 0 = 0 ooooo 0 0 0 0 0
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