Short Essay 4 essays.  This section gives you a chance to sh…

Short Essay 4 essays.  This section gives you a chance to showcase what you’ve learned in class and from the reading assignments.  Consider both when responding.  It is not necessary to write ALL possible answers for some of the questions; limit your examples and expand on these to answer subsequent questions, depending on the nature of the question.  You are not required to cite sources BUT you are encouraged to cite evidence that backs up your claims. You will be asked use evidence to support your claims and may NOT repeat examples between questions. Repeated/reused examples will receive no credit. For each essay, write 3-4 sentences (75-125 words) that address the question(s), using complete sentences and correct grammar, punctuation, spelling (misspellings of ancient names/places are accepted!), etc.  Writing should be appropriate for a college level. This section is designed to assess your critical thinking, using themes and facts from class as base knowledge.

For the following transaction of XYZ Inc. during the month o…

For the following transaction of XYZ Inc. during the month of March: Purchased Supplies inventory by paying cash Indicate how the following are affected at the time of the transaction (for each choose among the 3: I=increase, D=decrease, and N=no effect).       Total Assets [1] Total Liabilities [2] Net Income [3] Cash flow [4]          

The following amounts were reported for Saturn Inc. at the e…

The following amounts were reported for Saturn Inc. at the end of the first year of operations   Common stock $ 200,000   Sales revenue $ 800,000   Total assets $ 600,000   Dividends declared $ 40,000   Total liabilities $ 320,000     What are the retained earnings at the end of the year (hint: this being first year of the business the balance in RE at the beginning of the year is 0)? 

For the following transaction of XYZ Inc. during the month o…

For the following transaction of XYZ Inc. during the month of March: Purchased Machinery by issuing Notes Payable Indicate how the following are affected at the time of the transaction (for each choose among the 3: I=increase, D=decrease, and N=no effect).       Assets [1] Liabilities [2] Net Income [3] Cash flow [4]          

The following amounts were reported for Saturn Inc. at the e…

The following amounts were reported for Saturn Inc. at the end of the first year of operations   Common stock $ 200,000   Sales revenue $ 800,000   Total assets $ 600,000   Dividends declared $ 40,000   Total liabilities $ 320,000     What amount of expenses were incurred during the year?