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Not sure why my asnwer is not complete. Not sure if I am missing anything!! Additional data: - Sales were $36,400;$22,400 in cash was received
Not sure why my asnwer is not complete. Not sure if I am missing anything!!
Additional data: - Sales were $36,400;$22,400 in cash was received from customers. - Bought new land for cash, $28,000. - Sold other land for its book value of $14,000. Additional data: - Sales were $36,400;$22,400 in cash was received from customers. - Bought new land for cash, \$28,000. - Sold other land for its book value of $14,000. - Paid $2,800 principal on the long-term note payable and $2,800 in interest. - Issued new shares of stock for $28,000 cash. - Cash dividends of $4,600 were declared and paid to stockholders. - Paid $16,300 on accounts payable. - No inventory purchases were made; other expenses were incurred on account. - All wages were paid in cash. - Other expenses were on account. Required: a. Prepare a comparative balance sheet at December 31 , for 2021 and 2020 . Include the change from 2020 to 2021. b. Prepare the statement of cash flows using the direct method. \begin{tabular}{l|l|l} Required A & Required B \end{tabular} Prepare a comparative balance sheet at December 31 , for 2021 and 2020 . Include the change from 2020 to 2021. EXTRA SURPLUS COMPANY Required B> EXTRA SURPLUS COMPANY Statement of Cash Flows Year Ended December 31, 2021 Cash Flows from Operating ActivitiesStep by Step Solution
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