This spreadsheet assignment is a continuation of the

spreadsheet assignment #6184

This spreadsheet assignment is a continuation of the spreadsheet assignment given in Chapter
2. If you completed that spreadsheet, you have a head start on this one. Determine the impact
of each of the following transactions on total assets, total liabilities, and total owners' equity.
Treat each transaction independently, meaning that before determining the impact of each new
transaction, you should reset the financial statement values to their original amounts. Each of
the hypothetical transactions is assumed to occur on the last day of the year.a. Collected $20
cash from customer receivables.b. Purchased $30 in inventory on account.c. Purchased $100 in
property, plant, and equipment. The entire amount of the purchase was financed with a
mortgage. Principal repayment for the mortgage is due in 10 years.d. Purchased $100 in
property, plant, and equipment. The entire amount of the purchase was financed with new
stockholder investment.e. Borrowed $20 with a short-term loan payable. The $20 was paid out
as a dividend to stockholders.f. Received $20 as an investment from stockholders. The $20 was
paid out as a dividend to stockholders.View Solution:
This spreadsheet assignment is a continuation of the spreadsheet assignment

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