(Solved): Chapter 3 Homework (i Saved 3 2.5 points Skipped Hint Print References a. Paid wages of $1,250 for t ...

Chapter 3 Homework (i Saved 3 2.5 points Skipped Hint Print References a. Paid wages of

for the current period (example). b. Borrowed

cash from local bank using a short-term note. c. Purchased

of equipment on credit. d. Earned

of sales revenue; collected cash. e. Received

of utilities services, on credit. f. Earned

of service revenue, on credit. g. Paid

cash on account to a supplier. h. Incurred

of travel expenses; paid cash. i. Earned

of service revenue; collected half in cash, with balance on credit. j. Collected

cash from customers on account.

. Incurred

of advertising costs; paid half in cash, with balance on credit. Required: For each of the transactions, complete the following table, indicating the account, amount, and direction of the effect ( + for increase and - for decrease) of each transaction under the accrual basis. Include revenues and expenses as subcategories of stockholders' equity, as shown for the first transaction, which is provided as an example. Determine the company's preliminary net income. Complete this question by entering your answers in the tabs below. Required 1 Required 2 For each of the transactions, complete the following table, indicating the account, amount-and direction of the effect ( + for increase and - for decrease) of each transaction under the accrual basis. Include revenues and expenses as subcategories of stockholders' equity, as shown for the first transaction, which is provided as an example. (Enter any decreases to Assets, Liabilities, and Stockholder's Equity with a minus sign.) Show less 4 Mc Graw Prev 3 of 5 Next then for required 2 determine the companys preliminary net income.