Accounting homework please help!

accounts along with some ancillary information and ask the student to deduce what happened to cash during the period. This procedure amounts to making some educated guesses about the effect of various transactions on cash. To do this correctly, the student has to understand the accounting treatment of all the affected accounts. The statement of cash flows, therefore, creates an excellent vehicle for review. A problem such as this will be presented in class, and a homework problem, Typical Incorporated, will be assigned. Problems for Section 5A 5A-1. The comparative balance sheet for TYPICAL Incorporated is shown below for January 1, 20x1, and December 31, 20x1. The income statement for 20x1 is also shown. TYPICAL makes all sales and purchases on account. Any equipment purchases made during the year were in cash. TYPICAL INCORPORATED Comparative Balance Sheet January 1 and December 31, 20x1 December 31 January 1 Assets 3,000 Cash 5,000 7,000 Accounts receivable 3,000 Supplies 1,000 6,000 17,000 7,000 Plant & equipment Accumulated depreciation 3,000 Total Assets 000 0,000 Liabilities & Owners' Equity 1,000 Accounts payable Wages payable 2,000 Total Liabilities 1,000 2,000 Common stock 10,000 16,000 5,000 Retained earnings 12,000 16,000 Total Liabilities & Owners' Equity $30,000