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i posted the question in its entirety.. hework Seved Help Malco Enterprises issued $10,000 of common stock when the company was started. In addition, Malco
i posted the question in its entirety..
hework Seved Help Malco Enterprises issued $10,000 of common stock when the company was started. In addition, Malco borrowed $36,000 from a local bank on July 1 Year 1. The note had a 6 percent annual interest rate and a one-year term to maturity. Malco Enterprises recognized $72,500 of revenue on account in Year 1 and $85,200 of revenue on account in Year 2. Cash collections of accounts receivable were $61,300 In Year 1 and $71,500 In Year 2. Malco paid $39,000 of other operating expenses In Year 1 and $45,000 of other operating expenses in Year 2. Malco repeld the loan and Interest at the maturity date. Required a. Organize the information in accounts under an accounting equation. b. What amount of net cash flow from operating activities would be reported on the Year 1 cash flow statement? c. What amount of Interest expense would be reported on the Year income statement? d. What amount of total liabilities would be reported on the December 31, Year 1, balance sheet? e. What amount of retained earnings would be reported on the December 31, Year 1, balance sheet? t. What amount of cash flow from financing activities would be reported on the Year 1 statement of cash flows? g. What amount of interest expense would be reported on the Year 2 income statement? h. What amount of cash flows from operating activities would be reported on the Year 2 cash flow statement? 1. What amount of assets would be reported on the December 31, Year 2, balance sheet? Complete this question by entering your answers in the tabs below. Reg Reqto Organize the information in accounts under an accounting equation (Enter any decreases to account balances with a minus sign. Round intermediate calculations and your answers to nearest whole dollar amount. Not al cells will require entry) MALCO ENTERPRISES Effect of Events on the Accounting Equation Year 1 and Year Assets Stockholders' Equity Cash Notes Interest Common Retained Payable Payable Stock Earnings Step by Step Solution
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