Identify the effect(s) as a result of each transaction listed as 1 through 4 below by placing the letter of the effect on total liabilities and the effect on net income in the two columns provided. Keep in mind that there are currently no accrued expenses recorded on the balance sheet as liabilities. 
Correct Answer:
Verified
Q65: On January 1, a 5-year, $5,000 non-interest-bearing
Q66: Bowlin Company issued $1,000,000 of 9 percent,
Q67: Duncan Industries sold $100,000 of 12 percent
Q68: On January 1, 2009, Pacific Corporation issued
Q69: On January 1, 2010, Lukens Corporation issued
Q70: On January 1, 2009, Mango Corporation issued
Q72: On January 1, 2009, Precision Corporation issued
Q73: Bowlin Company issued $1,000,000 of 9 percent,
Q75: On January 1, 2009, Sheena Corporation issued
Q79: On January 1, a 3-year, $1,090 non-interest-bearing
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