Question
Assume the following beginning balance for Rustic Camp Sites as of January 1, 20xx: Cash - $51,000 Land - $500,000 Notes Payable - $400,000 Common
Assume the following beginning balance for Rustic Camp Sites as of January 1, 20xx:
Cash - $51,000
Land - $500,000
Notes Payable - $400,000
Common Stock $120,000
Retained Earnings $31,000
Assume the following ending balance as of the end of the year
Cash - $230,000
Land - $400,000
Notes Payable - $400,000
Common Stock $152,000
Ending Retained Earnings $78,000
Dividends - $9,000
Revenue - $116,000
Expense - $60,000
Construct an income statement, statement of changes in stockholders equity and balance sheet as of the end of the year 20xx using Excel
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| Rustic Camp Sites |
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| Rustic Camp Sites |
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| Income Statement |
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| Balance Sheet |
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| For the Year Ended December 31, 20xx |
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| December 31, 20xx |
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| Revenue |
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| Cash |
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| Expense |
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| Land |
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| Net Income |
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| Total Assets |
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| Notes Payable |
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| Rustic Camp Sites |
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| Statement of Changes in Stockholders Equity |
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| Common Stock |
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| For the Year Ended December 31, 20xx |
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| Retained Earnings |
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| Total Liabilities & S. Equity |
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| Beginning Common Stock |
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| Additional Common Stock |
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| Ending Common Stock |
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| Beginning Retained Earnings |
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| Net Income |
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| Less Dividends |
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| Ending Retained Earnings |
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| Total Stockholders Equity |
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Computerized Accounting Using QuickBooks Pro 2020
Authors: Alvin A. Arens, D. Dewey Ward, Carol J. Borsum
6th Edition
0912503793, 9780912503790
