Question

Identify the effects of the following transactions in the table below:

Balance Sheet Income Statement No cash Transaction Cash . Liabilities + Lamed Capital Revenues Expenses - Net Income (1) Paid 151.400 cash inteet on 2) 51.000 employee wages payable pa din cash 12.00 inventory is purchased goods for 2800 on Record $1.500 the cost of vory soldi () 9 C ected 2000 ch transaction 10 HO omantis Inanced by 11 Pad 12000 na note pale that came 12 due

Answer 1

		Balance Sheet										Income Statement
				Non Cash				Cont.		Earned
Transactions		Cash	+	Assets	=	Liabilities	+	Capital	+	Capital		Revenues	-	Expenses	=	Net Income
1)		$   (1,400.00)								$(1,400.00)				$ 1,400.00		$(1,400.00)
2)						$    1,000.00				$(1,000.00)				$ 1,000.00		$(1,000.00)
3)		$   (2,600.00)		$ 2,600.00
4)				$ 2,800.00						$ 2,800.00		$ 2,800.00				$ 2,800.00
5)				$(1,500.00)						$(1,500.00)				$ 1,500.00		$(1,500.00)
6)		$    2,000.00		$(2,000.00)
7)				$ 4,500.00		$    4,500.00
8)		$(20,000.00)				$(20,000.00)

Is this okay?