Analyzing Transactions Using the Financial Statement Effects Template Sefcik Company began operations on the first of October. Following are the transactions for its first month of business. 1. S. Sefcik launched Sefcik Company and invested $50,000 into the business in exchange for common stock. The company also borrowed $100,000 from a local bank. 2. Sefcik Company purchased equipment for $95,000 cash and inventory of $40,000 on credit (the company still owes its suppliers for the inventory at month-end). 3. Sefcik Company sold inventory costing $30,000 for $50,000 cash. 4. Sefcik Company paid $12,000 cash for wages owed employees for October work. 5. Sefcik Company paid interest on the bank loan of $1,000 cash. 6. Sefcik Company recorded $500 of depreciation expense related to its equipment. 7. Sefcik Company paid a dividend of $2,000 cash. a. Record the effects of each transaction using the financial statement effects template. Transaction Cash Asset 1. 2. 3. 4. Noncash Assets Balance Sheet Liabilities Contrib. Capital Earned Capital Revenues Income Statement Expenses Net Income = 5. = 6. 7.