Question

please answer, will give thumbs up

Put A Financial Statement Effects Template Cash Balance Sheet Liabil Noncash Assets Income Statement Assets Contrib Capital Eamel Capital Issue common stock for $10,000 cash COS Net Income Sell inventory costing 59,000 for $18,000 on credit TE! Receive $700 cash in advanced for future costing service IV Pay $1.500 cash toward counts payable The company paid 5700 cash in dividends to v

Answer 1

SOLUTION:
	Balane Sheet		Income Statement
Transaction	Cash Assets	Non Cash Assets	Liabilities	Contributed Capital	Earned Capital		Revenues	Expenses	Net Income
1. Issue of Common Stock for $ 10,000 Cash	$                 10,000	0	0	$               10,000	0		0	0	0
2. Sell inventory costing $ 9000 for $ 18,000		$                      18,000			$                   9,000	#	$              18,000	$           9,000	$           9,000
3. Received $ 700 advance for future consultancy Services	$                       700	0	$                    700	0	0		0	0	0
4. Pay $ 3,500 cash towards account payable	$                  -3,500	0	$               -3,500	0	0		0	0	0
5. The Company Paid $ 700 cash in dividends to Carter Owner	$                     -700	0	0	$                    -700	0		0	0	0