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he financial statements at the end of Atlas Realty's first month of operations follow: Required: Question Content Area Analyze the interrelationships among the four financial
he financial statements at the end of Atlas Realty's first month of operations follow:
Required:
Question Content Area
Analyze the interrelationships among the four financial statements and enter the missing amounts. If an amount is zero, enter "0".
Fees earned | $400,000 | |
Expenses: | ||
Wages expense | $fill in the blank 9067a0fef06b01a_1(a) | |
Rent expense | 48,000 | |
Supplies expense | 17,600 | |
Utilities expense | 14,400 | |
Miscellaneous expense | 4,800 | |
Total expenses | 288,000 | |
Net income | $fill in the blank 9067a0fef06b01a_2(b) |
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LuAnn Martin, capital, May 1, 20Y3 | $fill in the blank f41799088ffffc8_1(c) | |
Investment on May 1, 20Y3 | $fill in the blank f41799088ffffc8_2(d) | |
Net income for May | fill in the blank f41799088ffffc8_3(e) | |
Withdrawals | fill in the blank f41799088ffffc8_4(f) | |
Increase in owner's equity | fill in the blank f41799088ffffc8_5(g) | |
LuAnn Martin, capital, May 31, 20Y3 | $fill in the blank f41799088ffffc8_6(h) |
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Atlas Realty Balance Sheet May 31, 20Y3 | |
Assets | |
Cash | $123,200 |
Supplies | 12,800 |
Land | fill in the blank 002265f3100604a_1(i) |
Total assets | $fill in the blank 002265f3100604a_2(j) |
Liabilities | |
Accounts payable | $48,000 |
Owners Equity | |
LuAnn Martin, capital | fill in the blank 002265f3100604a_3(k) |
Total liabilities and owners equity | $fill in the blank 002265f3100604a_4(l) |
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Use the minus sign to indicate cash outflows, decreases in cash, and cash payments.
Cash flows from (used for) operating activities: | ||
Cash received from customers | $fill in the blank 5ea54a056fb3059_1(m) | |
Cash paid for operating expenses and to creditors | (252,800) | |
Net cash flows from operating activities | $fill in the blank 5ea54a056fb3059_2(n) | |
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 as investment | $160,000 | |
Cash withdrawals by owner | (64,000) | |
Net cash flow from financing activities | fill in the blank 5ea54a056fb3059_3(o) | |
Net increase (decrease) in cash | blank | fill in the blank 5ea54a056fb3059_4(p) |
Cash balance, May 1, 20Y3 | blank | 0 |
Cash balance, May 31, 20Y3 | $fill in the blank 5ea54a056fb3059_5 |
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