Problem 1-3A For use with

Accounting, 25e

and

Financial Accounting, 13e

by

Warren/Reeve/Duchac

Name:

Section:

Score: 0%

Key Code: [Key code here]

Instructions

Answers are entered in the cells with gray backgrounds.

Cells with non-gray backgrounds are protected and cannot be edited.

Enter the appropriate amounts/formulas in the answer cells, or select from the drop-down list.

An asterisk (*) will appear to the right of an incorrect entry.

1. RELIANCE FINANCIAL SERVICES

Income Statement

Expenses:

Total expenses

Net income

2. RELIANCE FINANCIAL SERVICES

Statement of Owner's Equity

Seth Feye, capital, July 1, 2014

Seth Feye, capital, July 31, 2014

3. RELIANCE FINANCIAL SERVICES

Balance Sheet

Assets Liabilities

Owner's Equity

Total assets Total liabilities and owner's equity

4. RELIANCE FINANCIAL SERVICES

Statement of Cash Flows

Cash flows from operating activities:

Cash received from customers

Cash payments for expenses and

payments to creditors

Net cash flows used for operating activities

Cash flows from investing activities

Cash flows from financing activities:

Cash received as owner's investment

Deduct cash withdrawal by owner

Net cash flows from financing activities

Net increase in cash and July 31, 2014, cash balance