To determine Identify the operating, financing and investing activities and the direction of increase or decrease in the amount. Explanation Indicate the effects of the transactions on the statement of cash flows: Transaction Operating, Financing and Investing activities Increase or decrease in the amount ($) a. Received contributions from five investors of $60,000 in cash ($12,000 each), a barn valued at $100,000, land valued at $90,000, and supplies valued at $12,000. Each investor received 3,000 shares of stock with a par value of $0.01 per share. F +60,000 b. Built a small barn for $62,000. The company paid half the amount in cash on April 1, 2017, and signed a three-year note payable for the balance. I -31,000 c. Provided $35,260 in animal care services for customers, all on credit. NE NE d. Rented stables to customers who cared for their own animals; received cash of $13,200. O +13,200 e. Received from a customer $2,400 to board her horse in May, June, and July (record as unearned revenue). O +2,400 f. Purchased hay and feed supplies on account for $3,810 to be used in the summer...

10th Edition

ISBN: 9781260918373

Author: Libby

Publisher: INTER MCG

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Ch. 3 - Prob. 1Q Ch. 3 - Prob. 2Q Ch. 3 - 3. Write the income statement equation and define...Ch. 3 - Prob. 4Q Ch. 3 - 5. Define accrual accounting and contrast it with...Ch. 3 - 6. What criteria must normally be met for revenue...Ch. 3 - Prob. 7Q Ch. 3 - 8. Explain why stockholders’ equity is increased...Ch. 3 - 9. Explain why revenues are recorded as credits...Ch. 3 - 10. Complete the following matrix by entering...

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