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Hello Class. This is Dr. Fenton, and in this video I would like to show you how individual transactions impact the financial statements. We are first going to concentrate on the income statement and the balance sheet, and later well take a look at the statement of changes in stockholders equity. Lets get started so let me remove my video. Now and you can see the spreadsheet I prepared and this is in the typical accounting equation format that you can see across the top. You know, the assets equal liabilities plus stockholders equity. Were going to enter individual transactions that will come from a second tab at the bottom. Click on it and you can see twelve transactions that you should be familiar with. The first one, lets go ahead and take a look at; enter it: The organizers of the new corporation contributed $100,000 in exchange for stock of the corporation. To enter this in the spreadsheet, cash is increasing by $100,000, then we have to enter the reason that cash came int
