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Please help me The transactions and integrated financial statement framework for Terry Mason for February 20 Y 4 appear below: Terry Mason organized The Fifth
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The transactions and integrated financial statement framework for Terry Mason for February 20 Y 4 appear below: Terry Mason organized The Fifth Season at the beginning of February 20Y4. During February, The Fifth Season entered into the following transactions: a. Terry Mason invested $28,250 in The Fifth Season in exchange for capital stock. b. Paid $6,720 on February 1 for an insurance premium on a 1 -year policy. c. Purchased supplies on account, $2,640. d. Received fees of $45,060 during February. e. Paid expenses as follows: wages, $15,000; rent, $2,500; utilities, $1,250; and miscellaneous, $1,375. f. Paid dividends of $7,770. There was $2,112 of supplies on hand as of February 28 . Statement of Cash Flows a. Financing b. Operating d. Operating e. Operating f. Financing Increase in cash Income Statement d. Fees earned e. Wages expense e. Rent expense e. Utilities expense e. Miscellaneous expense a1. Ins. exp. a2. Supplies exp. Net income $45,060 15,000 2,500 1,250 1,375 560 528 $23,847 Cash flows from operating activities: Prepare an income statement for February. Prepare a retained earnings statement for February. If an amount box does not require an entry, leave it blank or enter zero "0". Prepare an income statement for February. The Fifth Season Income Statement For the Month Ended February 28, 20 Y4 Operating expenses: Total expenses Net income Net loss Prepare a recameu edrnings statement for February. If an amount Prepare a statement of cash flows for February. If your answer is zero enter "0". Enter net cash outflows as negative amounts. The Fifth Season Statement of Cash Flows For the Month Ended February 28, 20Y4 Cash flows from operating activities: Cash flows from financing activities: Cash as of February 28, 20 Y4 Cash received from customers Net cash flows from operating activities Net income Net increase in cash during February Prepare an income statement for February. The Fifth Season Income Statement For the Month Ended February 28, 20Y Operating expensesStep by Step Solution
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