Question: please specify which column (do no say debit and credit) Identify how each of the following separate transactions through 10 affects financial statements. For increases,
Identify how each of the following separate transactions through 10 affects financial statements. For increases, place a "t" and the dollar amount in the column or columns. For decreases, place a "-" and the dollar amount in the column or columns. Some cells may contain both an increase (1) and a decrease (-) along with dollar amounts. The first transaction is completed as an example, Required: a. For the balance sheet, identify how each transaction affects total assets, total liabilities, and total equity. For the income statement, identify how each transaction affects net income b. For the statement of cash flows, identify how each transaction affects cash flows from operating activities, cash flows from investing activities, and cash flows from financing activities. Income Statement Net Income Balance Sheet Total Total Total Assets Liabilities Equity +450 +450 250 Transaction Statement of Cash Flows Operating Investing Financing Activities Activities Activities +450 250 1250 +250 1. Owner invests $450 cash in business 2. Receives $250 cash for services provided 3. Pays $370 cash for employee wages 4 Buys $500 of equipment on credit 5. Purchases 5000 of supplies on credit 6. Buys equipment for $700 cash 7. Pays $540 on accounts payable 8. Provides $740 services on credit 9. Owner withdraws $300 cash 10. Collects $765 cash on accounts receivable
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