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Chris Ying owns and operates Atlas Realty. The financial statements at the end of Atlas Realty's first month of operations follow: By analyzing the interrelationships
Chris Ying owns and operates Atlas Realty. The financial statements at the end of Atlas Realty's first month of operations follow: By analyzing the interrelationships among the four financial statements, determine the missing amounts. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. Atlas Realty Statement of Owner's Equity For the Month Ended May 31, 20 Y6 Chris Ying, capital, May 1, 20 Y6 Investment by owner Net income for May Withdrawals Chris Ying, capital, May 31, 20 Y6 Atlas Realty Balance Sheet May 31, 20 Y6 Assets Cash Supplies Land Total assets Accounts payable Accounts payable Owner's Equity $48,000 Chris Ying, capital Total liabilities and owner's equity Accounts payable $48,000 Owner's Equity Chris Ying, capital Total liabilities and owner's equity Atlas Realty Statement of Cash Flows For the Month Ended May 31, 20 Y6 Cash flows from (used for) operating activities: Cash received from customers Cash paid for expenses and to creditors (252,800) Net cash flows from operating activities Cash flows from (used for) investing activities: Cash paid for acquisition of land (120,000) Cash flows from (used for) financing activities: Cash received from owner's investment $160,000 Cash paid for owner withdrawals (64,000) Net cash flows from financing activities Net increase (decrease) in cash Cash balance, May 1, 20 Y 6 Cash balance, May 31, 20Y6
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