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.
Correct Answer:
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