Missing information in financial statements Required Fill in the blank (as indicated by the alphabetic letters in
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Missing information in financial statements
Required
Fill in the blank (as indicated by the alphabetic letters in parentheses) in the following financial statements. Assume the company started operations January 1, 2010, and that all transactions involvecash.
Financial StatementsFinancial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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For the Years 2010 2011 Income Statements Revenue Expense Net income S 700 1,300 2,000 1,300) S 200 Im 700 Statement of Changes in Stockholders Equity Beginning common stock Plus: Common stock issued Ending common stock Beginning retained earnings Plus: Net income Less: Dividends S (n6,000 5,00000 2000 5000 600t 200 700 100 Ending retained earnings Total stockholders equity 100p600 $ (d) 6,200 8,600 Balance Sheets Assets S (e Sq (u) 8,000 s $11200 10,600 S (g) S5,0002000 Cash Land Total assets Liabilities Stockholders' equity 8,000 Common stock Retained earnings (hl 600 ( 208,600 $8100 11200 10,600 200 Total stockholders' equity Total iabilities and stockholders' equity Statements of Cash Flows Cash flows from operating activities Cash receipts from revenue Cash payments for expenses 0 700 200 (wi 700 Net cash flows from operating activities Cash flows from investing activities 600 0(8,000) 0 3,000 5,000 7900 Cash payments for land Cash flows from financing activities Cash receipts from loan Cash payments to reduce debt Cash receipts from stock issue Cash payments for dividend:s 3,000 1,000) 1,000 (100)1500)z) 2,500 4,900) 8,100 ly) (1,300) Net cash flows from financing activities Net change in cash Plus: Beginning cash balance Ending cash balance 8,100 (600) 3,200 S8,100 3200 $2600
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FOR THE YEARS 2010 2011 2012 Income Statements Revenue cash 700 1300 2000 Expense cash a 500 700 1300 Net Income Loss 200 m 600 700 Statements of Changes in Stockholders Equity Beginning Common Stock ...View the full answer
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Related Book For
Survey of Accounting
ISBN: 978-0078110856
3rd Edition
Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi
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