For each Financial Transaction below, identify the effect on theBalance Sheet, Income Statement and Statement of Cash Flows. If atransaction does not effect a statement{s), then answer “N/A.” {1/2point/or each of the ihree statements.} Identify if the transactionon the statement of cash flows is an Operating activity {OA},Investing activity {IA) or a Financing Activity (FA)
1. Calculate the Depreciation on a delivery truck that costs $225,000 with a salvage value of $10,000. Assume the truck will be depreciated over 10 years using straight-line depreciation. 2. Record the effect on the financial statements for the first year’s of depreciation expense for the truck. Assets Statement Stockholders’ Equity of Cash Flow common Retained Earnings Stock REV EXP DIV Show transcribed image text 1. Calculate the Depreciation on a delivery truck that costs $225,000 with a salvage value of $10,000. Assume the truck will be depreciated over 10 years using straight-line depreciation. 2. Record the effect on the financial statements for the first year’s of depreciation expense for the truck. Assets Statement Stockholders’ Equity of Cash Flow common Retained Earnings Stock REV EXP DIV
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