Quiz 1 - Name_ _4-Digit # _Section_ Financial Statement...

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Name_ ___________________4-Digit # _____Section___ Financial Statement Relationships : [093Q1] For each of the independent fact situations below determine the effects on each of the financial statement elements shown in the following grid. Show the dollar amounts of the increases with a '+' and decreases with a '-'. Specific accounts names do not have to be used (but could be used). 1. The firm received $310,000 total cash from two investors when the firm was founded. 2. Today the firm signed a lease and moved into an office space for a one-year period starting today. All of the cash for the entire year was paid today. The monthly rate is $900. 3. The firm leased a computer for two years starting today and paid for the first three months today. The monthly rental rate is $400. 4. One month of the one-year office rental has expired. 5. The firm purchased some office supplies on account at a cost of $2,000. 6.
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This note was uploaded on 09/13/2009 for the course BUAD 250A taught by Professor 10:00-10:50 during the Fall '06 term at USC.

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Quiz 1 - Name_ _4-Digit # _Section_ Financial Statement...

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