FASTFORWARD Income Statement Revenues 9 $ 5,800 300 6.100 Total revenues Expenses 1,000 700 Total expense 1.700 4.400 $ FASTFORWARD Statement of Changes in Owner's Equity Add: 30.000 4.400 Subtotal Less: 34.400 34,400 (200) 34,200 $ FASTFORWARD Balance Sheet Assets Liabilities S $ 10 11 12 13 14 15 16 17 18 19 20. 21 22 23 24 25 26 27 28 29 3D 31 32 33 34 35 36 37 38 39 40 41 2 43 44 45 416 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 54 4.800 9.600 26.000 6,200 6,200 Total Liabilities Equity 34.200 40 400 Total Assets $ 40400 Total Liabilities & Equity FASTFORWARD Statement of Cash Flows For the Month Ended December 31, 2017 $ 6.100 (3.400) (1.000) (700) $ 1.000 (28,000) Cash flows from operating activities: Cash received from clients (54.200 + $1,900) Cash paid for supplies ($2,500 - $900) Cash paid for rent Cash paid to employees Net cash provided by operating activities Cash flows from investing activities: Purchase of equipment Net cash provided by investing activities Cash flows from financing activities: Investments by owner Withdrawals by owner Net cash provided by financing activities Net increase in cash Cash balance, December 1, 2017 Cash balance, December 31, 2017 (26,000) 30,000 200) 29.800 4.800 $ 4.800 REQUIRED Analyze the following transactions for FastForward using the accounting equation 1) The owner, Chuck Taylor, invests $30 000 cash in the business to start it up 2) FastForward purchases supplies for cash. $2.500 3) Fastforward purchases equipment for cash. $26.000 4) FastForward purchases supplies on credit. 57.100 5) FastForwarders revenue by providing consulting services to dients and receives cas, 54.200 6) FastForward pay the landlord for the mont's rent expense, $1.000 cash 7.) FastForward pays its employee wages for the week worked $700 cash 8) FastForward provides consulting is $1.600 and rents out its facilities, $300, for revenue and bills its clients for payment The chon in transaction & above pays FastForward when it receives the bilton days later $1.900 10) FastForward makes a partial payment on the supplies purchased in transaction 4 above $900. 11.) The owner, Chuck Taylor withdraws cash from the business, $200 ASSETS LIABILITIES EQUITY 9) Accounts Receivable - Supplies - Equipment Accounts Payable C. Taylor Cash C. Taylor Withdrawals Capital Revenues Expenses
