This spreadsheet assignment is a continuation of the spreadsheet assignment given in Chapter 2. If you completed that spreadsheet, you have a head start on this one. Determine the impact of each of the following transactions on total assets, total liabilities, and total owners' equity. Treat each transaction independently, meaning that before determining the impact of each new transaction, you should reset the financial statement values to their original amounts. Each of the hypothetical transactions is assumed to occur on the last day of the year.
a. Collected $20 cash from customer receivables.
b. Purchased $30 in inventory on account.
c. Purchased $100 in property, plant, and equipment. The entire amount of the purchase was financed with a mortgage. Principal repayment for the mortgage is due in 10 years.
d. Purchased $100 in property, plant, and equipment. The entire amount of the purchase was financed with new stockholder investment.
e. Borrowed $20 with a short-term loan payable. The $20 was paid out as a dividend to stockholders.
f. Received $20 as an investment from stockholders. The $20 was paid out as a dividend to stockholders.