finalacial accountingplease give me the answer of this question thanks Purchased land. Made partial payment with cash and issued a note payable for the remainingListed below are cight transactions the Foster Corporation made during November:L03 EXERCISE 3.9Ellacts ofa.Issucd stock in exchange for cash.L06 Transactions on theFinancial Statemontsb.balance.с.Reconded utilities expense for Novembe. l'ayment is due in mid-DecemberLO7d. Purchased office supplics with cash.Paid outstanding salaries payable owed to enployces for wages earned in Octoberс.f.Declared a cash dividend that will not be paid until late December.g.Sold land for cash at an amount equal to the land's historical cost.h. Collected cash on account from customers for services provided in September and OctoberIndicate the effects of the above trunsactions on cach of the financial statement elernents shouninthe column headings below. Use the following symbols: 1 = Increase, D Decrease, and NE = naeffect.AssetsLlabilitEqultyTransactionNet IncomeA.b.C.d.е.f.g.h.

Solution: Introduction: Accounting cycle means a process to record, analyze, accounting of all…

Listed below are cight transactions the Foster Corporation imade during November: LO3 EXERCISE 3.9 Elfocts of a. Issucd stock in exchange for cash. LI6 Transactions on the Financial Stlatemonts b. Purchased land. Made partial payment with cash and issued a note payable for the remaining balance. с. Recorded utilities expense for Novembet. l'ayment is due in mid December. L07 d. Purchased office supplics with cash. Paid outstanding salaries payable owed to employces for wages earned in October с. f. Declared a cash dividend that will not be paid until late December. R. Sold land for cash at an amount equal to thc land's historical cost. h. Collected cash on account from customers for services pruviided in September and October Indicate the effects of the above trunsactions on cach of thıe financial statement elerments shoanin the column headings below. Use the following symbols: I = Increase, D Decrease, and NE = na effect. Transaction Net Income Assets Llabilitles Equlty R. b. C. d. е. f. g. h.

Listed below are cight transactions the Foster Corporation imade during November: LO3 EXERCISE 3.9 Elfocts of a. Issucd stock in exchange for cash. LI6 Transactions on the Financial Stlatemonts b. Purchased land. Made partial payment with cash and issued a note payable for the remaining balance. с. Recorded utilities expense for Novembet. l'ayment is due in mid December. L07 d. Purchased office supplics with cash. Paid outstanding salaries payable owed to employces for wages earned in October с. f. Declared a cash dividend that will not be paid until late December. R. Sold land for cash at an amount equal to thc land's historical cost. h. Collected cash on account from customers for services pruviided in September and October Indicate the effects of the above trunsactions on cach of thıe financial statement elerments shoanin the column headings below. Use the following symbols: I = Increase, D Decrease, and NE = na effect. Transaction Net Income Assets Llabilitles Equlty R. b. C. d. е. f. g. h.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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