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Part A. Perform transaction analysis for Blake Company regarding the following transactions for the month of March. Indicate the account affected by the transaction as well as the increase (+) or decrease (-) to the components of the accounting equation and the amount.
Part B. Determine whether the transactions A-F above affected cash flows during March. If so, determine the type of activity as an operating activity, an investing activity, or a financing activity. If cash is not affected use "no effect." Place an X under the appropriate column for each transaction.
A.
A.Collected $2,000 on accounts receivable.
A.Perform transaction analysis for Blake Company regarding the following transactions for the month of March.Indicate the account affected by the transaction as well as the increase (+) or decrease (-) to the components of the accounting equation and the amount.Transaction
Assets
Liabilities
Stockholders' Equity
Account
Amount
Account
Amount
Account
Amount
Ex.Paid wages for two weeks in March.The total cash paid was $500.Cash
-$500
Wage expense
-$500
B.
B.Services were completed for customers.A total of $1,500 was billed but none of it was received in March.
Incapacitated
A state in which an individual or entity is unable to act or respond due to injury, illness, or other impairments.
Drugs
Substances used for medical purposes to diagnose, cure, treat, or prevent disease, or otherwise used to alter one's physiological or psychological state.
Alcohol
A chemical compound, specifically ethanol, often consumed as a recreational beverage, and known for its psychoactive and depressant effects.
Hidden Expectations
Implicit expectations within a project or work environment that are not clearly documented or acknowledged.
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