Required

Identify whether each of the following transactions is an asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE). Also show the effects of the events on the financial statements using the horizontal statements model. Indicate whether the event increases (I), or decreases (D) each element of the financial statements. If an event increases one account and decreases another account equally within the same element, record I/D. For events that do not effect the financial statement, leave the cell blank. In the Cash Flows column, designate the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). For events that do not affect the cash flow, leave the cell blank. The first two transactions have been recorded as examples. (Not all cells will require entry.)



Provided services and collected cash.
Purchased supplies on account to be used in the future.
Paid cash in advance for one year’s rent.
Paid cash to purchase land.
Paid a cash dividend to the stockholders.
Received cash from the issue of common stock.
Paid cash on accounts payable.
Collected cash from accounts receivable.
Received cash advance for services to be provided in the future.
Incurred other operating expenses on account.
Performed services on account.
Adjusted books to reflect the amount of prepaid rent expired during the period.
Paid cash for operating expenses.
Adjusted the books to record the supplies used during the period.
Recorded accrued salaries.
Paid cash for salaries accrued at the end of a prior period.
Recognized revenue on account earned at the end of the accounting period.