Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Problem 11-2 Larry's Landscaping February Statement of Cash Flows The following are the Balance Sheets for Larry's last period) and February 28, 2017 (the end

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Problem 11-2 Larry's Landscaping February Statement of Cash Flows The following are the Balance Sheets for Larry's last period) and February 28, 2017 (the end of this period) Landscaping as of January 31, 2017 (the end of Larry's Landscaping Balance Sheets as of the End of January and February 2017 February 28,2017 January 31, 2017 Assets Cash s15,000 $10,000 10,000 0 Total Current Assets 15,000 25,000 100,000 Total Property, Plant&Equipment 145,000 Total Assets $160.000 Equipment Land $10.000 Note Payable Long-Tem100,000 Total Liabilities 100,000 rs 1,000 9,000 10,000 $10.000 Common Stock 6,000 Paid-in Capital in Excess of Par Value.. 54,000 Total Owners' Equity 60,000 Total Liabilities and Equity $160.00 The following is additional information for the period February 1 to February 28, 2017: D Equipment was purchased for $25,000 cash. D A Building was purchased for $100,000 cash. D Land was purchased for $20,000 cash. $100,000 cash was borrowed on a Long-Term Note from the bank D 5,000 shares of $1.00 par value common stock were issued at a price of $10.00 per share. Use the following to complete this problem: D The Cash Flow Worksheet in the workbook 11-12 Blank Cash Flow Worksheet D The form "Statement of Cash Flows for February 1 to February 28,2017 on Pg 238 Requirement 1 Prepare a Cash Flow Worksheet for the period February 1 to February 28, 2017. Utlizing the data from the Cash Flow Worksheet prepared in Requirement 1-preparea Statement of Cash Flows for the period February 1 to February 28, 2017. Requirement 2

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Employee Relations Audits

Authors: C. Jennings, W. E. J. McCarthy, R. Undy

1st Edition

0415786614, 978-0415786614

More Books

Students also viewed these Accounting questions

Question

a. Describe the encounter. What made it intercultural?

Answered: 1 week ago