I am having difficulty filling in the blanks for this accounting question.
Prat lCorp. started the 2013 accounting period With $31,000 of assets (all cash], $12,500 of liabilities, and $5,000 of common stock. During the year, the Retained Earnings account Increased by $8,550. The bookkeeper reported that Prat pald cash expenses of $26,500 and paid a $2,100 cash dividend to the stockholders, but she could not nd a record of the amount of cash that Prat received for performing services. Prat also paid $4,000 cash to reduce the liability owed to the bank, and the business acquired $6,900 of additional cash from the issue of common stock. Required [Hint Determine the amount of beginning retained earnings before considering the eects of the current period events. rt also might help to record all events under an accounting equation before preparing the statements.) o-1. Prepare an Income statement for the 2018 accounting period. o-z Prepare a statement of changes In stockholders equity for the 2018 accounting period. o-3. Prepare a periodend balance sheet for the 2018 accounting period. :4. Prepare a statement of cash ows for the 2018 accountjng period. Complete this question by entering your answers in the labs below. ' Req A]. Req A2 Req A3 Req M Prepare an income statement for the 2018 accounljng period. Prat Corp. started the 2018 accounting period with $31,000 of assets {all cash], $12, 500 of liabilities, and $5,000 of common stock. During the year, the Retained Earnings aocount increased by $8,550. The bookkeeper reported that Prat paid cash expenses of $26,500 and paid a $2,100 cash dividend to the stockholders, but she could not nd a record of the amount of cash that Prat received for performing services. Prat also paid $4,000 cash to reduce the liability\":r owed to the bank, and the business acquired $6,900 of additional cash from the issue of common stock. Required [Hat Determine the amount of beginning retained earnings before considering the effects of the current period events. It also might help to record all events under an accounting equation before preparing the statements.) 5-1. Prepare an income statement for the 2018 accounting period. a-J'. Prepare a statement of changes in stockholders' equity for the 2018 accounting period. 3-3. Prepare a periodend balance sheet for the 2018 accounting period. 3-4. Prepare a statement of cash flows for the 2018 accounting period. Complete lis queslion by entering your answers in the tabs below. Prepare a statement of changes in stockholders' equity for the 2013 aooounting period. Beginning common shack Ii, BED Plus: Gammon stuck issued m. Prat Corp. started the 2018 accounting period with $31,000 of assets (all cash). $12,500 of liabilities, and $6,000 of common stock. During the year, the Retained Earnings account increased by $8,550. The bookkeeper reported that Prat paid cash expenses of $26.500 and paid a $2.100 cash dividend to the stockholders, but she could not find a record of the amount of cash that Prat received for performing services. Prat also paid $4,000 cash to reduce the liability owed to the bank, and the business acquired $6,900 of additional cash from the issue of common stock. Required (Hint. Determine the amount of beginning retained earnings before considering the effects of the current period events. It also might help to record all events under an accounting equation before preparing the statements.) a-1. Prepare an income statement for the 2018 accounting period. a-2. Prepare a statement of changes in stockholders' equity for the 2018 accounting period. a-3. Prepare a period-end balance sheet for the 2018 accounting period. -4. Prepare a statement of cash flows for the 2018 accounting period. Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req A3 Req A4 Prepare a period-end balance sheet for the 2018 accounting period. Prat Corp. Balance Sheet As of December 31, 2018 Assets Cash 0 Total assets $ Liabilities Stockholders' Equity Common stock 12,900 Retained earnings Total stockholders' equity 12,900 Total liabilities and stockholders' equity $ 12,900Prat Corp. started the 2018 accounting period with $31,000 of assets (all cash), $12,500 of liabilities, and $6,000 of common stock. During the year, the Retained Earnings account Increased by $8.550. The bookkeeper reported that Prat paid cash expenses of $26.500 and paid a $2,100 cash dividend to the stockholders, but she could not find a record of the amount of cash that Prat received for performing services. Prat also paid $4,000 cash to reduce the liability owed to the bank, and the business acquired $6,900 of additional cash from the issue of common stock. Required (/int Determine the amount of beginning retained earnings before considering the effects of the current perlod events. It also might help to record all events under an accounting equation before preparing the statements.) a-1. Prepare an Income statement for the 2018 accounting period. a-2. Prepare a statement of changes in stockholders' equity for the 2018 accounting period. a-3. Prepare a period-end balance sheet for the 2018 accounting period. a-4. Prepare a statement of cash flows for the 2018 accounting period. Complete this question by entering your answers in the tabs below. Req A1 Reg AZ Req A3 Req A4 Prepare a statement of cash flows for the 2018 accounting period. (Amounts to be deducted should be indicated with a minus sign.) Prat Corp. Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities: Cash payments for expenses $ (28.500) Cash payment for land 0 Net cash flow from operating activities $ (28.500) Cash flows from investing activities Cash flows from financing activities: Cash dividend to stockholders $ (2,100) Cash receipts from stock issue 3,900 Cash payments to creditors Net cash flow from financing activities 4.800 Net increase in cash Plus: Beginning cash balance Ending cash balance 0
