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NEED ALL PARTS QUICK THANK YOU Required information Problem 8-20A (Algo) Effect of business structure on financial statements L.O 8-1 [The following information applies to
NEED ALL PARTS QUICK THANK YOU
Required information Problem 8-20A (Algo) Effect of business structure on financial statements L.O 8-1 [The following information applies to the questions displayed below.] Cascade Company was started on January 1, Year 1 , when it acquired $159.000 cash from the owners. During Year 1, the company earned cash revenues of $81,000 and incurred cash expenses of $65,600. The company also paid cash distributions of $11,500. Required Prepare a Year 1 income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows under each of the following assumptions. (Consider each assumption separately) Problem 8-20A (Algo) Part c c. Cascade is a corporation. It issued 11,000 shares of $11 par common stock for $159,000 cash to start the business. Complete this question by entering your answers in the tabs below. Cascade is a corporation. It issued 11,000 shares of $11 par common stock for $159.000 cash to start the business. Complete this question by entering your answers in the tabs below. Prepare a income statement for Year 1 . Cascade is a corporation. It issued 11,000 shares of $11 par common stock for $159.000 cash to start the business. Complete this question by entering your answers in the tabs below. Prepare a statement of changes in stockholders' equity for Year 1. (Deductions should be indicated by a minus sign.) Prepare a balance sheet for Year 1. Prepare a statement of cash flows for Year 1 . (Cash outflows should be indicated with a minu Step by Step Solution
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