Question
Missing Amounts from Financial Statements The financial statements at the end of Atlas Realty's first month of operations follow: Required: Analyze the interrelationships among the
Missing Amounts from Financial Statements
The financial statements at the end of Atlas Realty's first month of operations follow:
Required:
Analyze the interrelationships among the four financial statements and enter the missing amounts. If an amount is zero, enter "0".
| Atlas Realty | ||
| Income Statement | ||
| For the Month Ended May 31, 2018 | ||
| Fees earned | $400,000 | |
| Expenses: | ||
| Wages expense | $ | |
| Rent expense | 48,000 | |
| Supplies expense | 17,600 | |
| Utilities expense | 14,400 | |
| Miscellaneous expense | 4,800 | |
| Total expenses | 288,000 | |
| Net income | $ | |
| Atlas Realty | ||
| Retained Earnings Statement | ||
| For the Month Ended May 31, 2018 | ||
| Retained earnings, May 1, 2018 | $ | |
| Net income | $ | |
| Dividends | ||
| Change in retained earnings | ||
| Retained earnings, May 31, 2018 | $ | |
| Atlas Realty | ||
| Balance Sheet | ||
| May 31, 2018 | ||
| Assets | ||
| Cash | $123200 | |
| Supplies | 12,800 | |
| Land | ||
| Total assets | $ | |
| Liabilities | ||
| Accounts payable | $48,000 | |
| Stockholders Equity | ||
| Common stock | $ | |
| Retained earnings | ||
| Total stockholders' equity | ||
| Total liabilities and stockholders equity | $ | |
Use the minus sign to indicate cash outflows, decreases in cash, and cash payments.
| Atlas Realty | ||
| Statement of Cash Flows | ||
| For the Month Ended May 31, 2018 | ||
| Cash flows from operating activities: | ||
| Cash received from customers | $ | |
| Cash payments for expenses and payments to creditors | -252,800 | |
| Net cash flows from operating activities | $ | |
| Cash flows from investing activities: | ||
| Cash payments for acquisition of land | -120,000 | |
| Cash flows from financing activities: | ||
| Cash received from issuing common stock | $160,000 | |
| Cash dividends | -64,000 | |
| Net cash flows from financing activities | ||
| Net increase (decrease) in cash and May 31, 2018, cash balance | $ | |
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Healthcare Fraud Auditing And Detection Guide
Authors: Rebecca S. Busch
1st Edition
0470127104, 978-0470127100
