For each of the following transactions, indicate the journal entries and the net impact of transactions on total assets, total liabailities, total owners’ equity, revenues/gains, expenses/losses, and cash flow from operating, investing and financing activities. Make sure to enter the amounts in the template as either positive for an increase, negative for a decrease, or zero for no impact.
TK Printer Systems (TK) markets a high-speed 3D printer for the manufacturing industry. The Company is located in Seattle, Washington and commenced business on January 1, 2020; the company’s year-end is December 31. TK purchases the printers from two European contract manufacturers that produce on its behalf. The transactions noted below occured during 2020 – you need to prepare journal entries for the transactions on the dates as indicated.
