MBA 520A- Week 1, Assignment 3 Worth up to 28 Points Analyse Transactions John Smith established John's Antique Appraisals Company and completed the following 1 Opened a business bank account with a deposit of $50,.00o in exchange for capital stock 2 Purchased a car for use in the business, paid $6,000 down (from th 3 Paid $2,100 monthly rent on office. 4 Signed a business cell phone plan Paid $1,500 for the first month GIVEN: Antique Appraisals Company and completed the following transactions during July 2016, hes first month of operations a car for use in the business, paid $,c0o down (from the business account) and signed a note for $24,000 e business account) and signed a note for SA000. 10 14 5 Purchased $5,000 of office supplies on account 16 Recelved S40,000 in cash from customers for appransals completed Paid $2,500 of the office supplies bill from (5) 20 8 Paid employee salaries of $23,000 9 Billed customers for $54,000 of appraisals performed 10 Paid dividends of $7,000 23 11 Collected 535,000 cash on account for appraisals billed in (9) 20 30 12 Paid $2,400 travel expenses and $500 miscellaneous expenses REQUIRED Part L. Indicate the eftect of each transaction on the accounting equation and classily each transaction for the statement of cash flows and income statement using the table format shown below. The first transaction is done for you as an example Stmt of Cash Flow Activity & Accounts Office Accounts NotesCapital Retained Income Statement