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    Hobart Company incurred the following transactions during 2003. Show the financial statement effects of the transactions by completing the financial statement schedule provided.

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    1. Financial Statement

    The Hobart Company incurred the following transactions during 2003:

    a. Acquired $50,000 of cash capital from owners
    b. Paid $10,000 to acquire manufacturing equipment
    c. Paid $5,000 cash for materials used in production
    d. Paid $2,000 for wages of production workers
    e. Paid $8,000 in general, selling, and administrative costs
    f. Recognized $1,000 of depreciation on the manufacturing equipment
    g. Sold inventory for $18,000 cash
    h. The cost of the inventory sold was $6,500

    Show the financial statement effects of the transactions by completing the financial statement schedule provided.
    Balance Sheet Income Statement

    T/A Cash Inven Equip = Cont. Cap Ret Ear Rev. - Exp. = NI

    A
    B
    C
    D
    E
    F
    G
    H

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