Describe how transactions of Lucent Technologies Inc. would affect the three ele

Question

Describe how transactions of Lucent Technologies Inc. would affect the three elements of the accounting equation.
a. Received cash from issuing stock.
b. Made cash sales
c. Received cash from the issuance of long term debt
d. Paid research and development expenses for the current year
e. Purchased machinery and equipment for cash
f. Received proceeds from selling a portion of manufacturing operation for a gain on the sale
g. Paid off long term debt
h. Paid employee pension expenses for the current year
i. Paid taxes
j. Paid officer salaries
k. Paid selling expenses
l. Paid dividends

Explanation / Answer

a.CASH XX COMMON STOCK XX b. CASH XX SALES XX c. CASH XX NOTES PAYABLE XX d.R&D Expenses XX CASH XX e. Machinery and Equipment XX Cash XX f. CASH XX DISCONTINUED OPERATION XX g. long term debt XX CASH XX h.Pension expenses XX CASH XX i. INCOME TAX EXPENSE XX CASH XX j. WAGES AND SALARIES EXPENSE XX CASH XX k.Selling expenses XX CASH XX l. Dividends PAID XX CASH XX

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