Identify The Effects Of The Following Transactions In The Table Below: Balance Sheet Income Statement Transaction Cash Asset + Noncash Assets = Liabilities + Contrib. Capital + Earned Capital Revenues - Expenses = Net Income (1) $600 Of Employee Wages Are Earned But Not Yet Paid = = (2) $3,000 Of Inventory Is Purchased On Credit = = (3) Sold Goods For $1,500 On Account = = (4) Record $700 For The Cost Of Inventory Sold In (3) Above = = (5) Collected $1,000 Cash From Transaction (3) Above

Nursing

Identify the effects of the following transactions in the table below: Balance Sheet Income Statement Transaction Cash Asset + Noncash Assets = Liabilities + Contrib. Capital + Earned Capital Revenues – Expenses = Net Income (1) $600 of employee wages are earned but not yet paid = = (2) $3,000 of inventory is purchased on credit = = (3) Sold goods for $1,500 on account = = (4) Record $700 for the cost of inventory sold in (3) above = = (5) Collected $1,000 cash from transaction (3) above

- November 14, 2022 - Edwin Tunner

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

Balance Sheet

Income Statement

Transaction

Cash Asset

Noncash Assets

Liabilities

Contrib. Capital

Earned Capital

Revenues

–

Expenses

Net Income

(1) $600 of employee wages are earned but not yet paid

(2) $3,000 of inventory is purchased on credit

(3) Sold goods for $1,500 on account

(4) Record $700 for the cost of inventory sold in (3) above

(5) Collected $1,000 cash from transaction (3) above

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