Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A company reports the following amounts on December 31, Year 1. Annets Cash Supplies Prepaid insurance Bolding $ 8,600 2,700 4,400 81,000 tibilities and Stockholders'
A company reports the following amounts on December 31, Year 1. Annets Cash Supplies Prepaid insurance Bolding $ 8,600 2,700 4,400 81,000 tibilities and Stockholders' Equity Accounts payable $12,400 Salaries payable 4.400 Notes payable 29,000 Common stock 40,000 Retained earnings 10,900 In addition, the company reported the following cash flows. Cash Inflow Customers Borrow from the bank (note) Sale of investments $78,000 29,000 23,500 Canh Outlas Employee salaries Supplies Dividende Purchase building $31.000 13,000 11,000 80,000 Required: 1. Prepare a balance sheet 2. Prepare a statement of cash flows. Complete this question by entering your answers in the tabs below. Balance Sheet Statement of Cash Flows Prepare a balance sheet. Balance Sheet December 31, Year 1 Assets Liabilities MacBook Air o 80 000 F2 3 GOD 4 44 4 11 @ A * # 3 $ 4 % 5 & 7 6 8 9 Complete this question by entering your answers in the tabs below. Balance Sheet Cash Flows Statement of Prepare a balance sheet. Balance Sheet December 31, Year 1 Assets Liabilities Total Liabilities Stockholders' Equity 1 Total Assets Total Stockholders' Equity Total Liabilities and Stockholders' Equity Statement of Cash Flows > MacBook Air 0 00 OOD 73 @ A & # 3 $ 4 % 5 2 6 8 Balance Sheet Statement of Cash Flows Prepare a statement of cash flows. (Cash outflows and decreases in cash should be indicated by Statement of Gush Flows For the year anded December 31, Year 1 Cash Flows from Operating Activities Net Cash Flows from Operating Activities Cash Flows from Investing Activities Net Cash Flows from Investing Activities Cash Flows from Financing Activities Net Cash Flows from Financing Activities Cash at the Beginning of the Year Cash at the End of the Year
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started