Squirrel Tree Services reports the following amounts on December 31, 2021. In addition, the company reported the
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Squirrel Tree Services reports the following amounts on December 31, 2021.
In addition, the company reported the following cash flows.
Required:1. Prepare a balance sheet.2. Prepare a statement of cash flows.
Transcribed Image Text:
Liabilities and Stockholders' Equity Accounts payable Salaries payable Notes payable Common stock Retained earnings Assets $ 9,700 3,500 Cash Supplies Prepaid insurance Building $ 7,700 1,800 3,500 20,000 72,000 11,800 Cash Inflows Customers Borrow from the bank (note) Sale of investments Cash Outflows Employee salaries Supplies Dividends Purchase building $60,000 $22,000 4,000 20,000 10,000 6,500 62,000
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Requirement 1 Squirrel Tree Services Balance Sheet December 31 2021 Assets Liabilities Cash 7700 Acc...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-1259914898
5th edition
Authors: David Spiceland, Wayne M. Thomas, Don Herrmann
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