Problem: Module 3 Textbook Problem 9 Learning Objective: 3-9 Identify the primary characteristics of sole proprietorships, partnerships, and corporations A sole proprietorship was started on January 1, Year 1, when it received $44,500 cash from Marin Jones, the owner. During Year 1, the company earned $40,800 in cash revenues and paid $19,020 in cash expenses. Jones withdrew $4,400 cash from the business during Year 1. Required Prepare the income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows for Jones's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Income Capital Balance Stmt of Statem. Statem... Sheet Cash Prepare the income statement. MARLIN JONES SOLE PROPRIETORSHIP Income Statement For the Year Ended December 31, Year 1 Income Statement Capital Statement > Problem: Module 3 Textbook Problem 9 Learning Objective: 3-9 Identify the primary characteristics of sole proprietorships, partnerships, and corporations A sole proprietorship was started on January 1, Year 1, when it received $44,500 cash from Marlin Jones, the owner. During Year 1, the company earned $40,000 in cash revenues and paid $19,020 in cash expenses. Jones withdrew $4,400 cash from the business during Year 1. Required Prepare the income statement, capital statement (statement of changes in equilty), balance sheet, and statement of cash flows for Jones's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Income Capital Balance Stmt of Statem.. Statem... Sheet Cash Prepare a capital statement. MARLIN JONES SOLE PROPRIETORSHIP Capital Statement For the Year Ended December 31, Year 1 Beginning capital balance Ending capital balance Problem: Module 3 Textbook Problem 9 Learning Objective: 3-9 Identify the primary characteristics of sole proprietorships, partnerships, and corporations A sole proprietorship was started on January 1, Year 1, when it received $44,500 cash from Marlin Jones, the owner. During Year 1, the company earned $40.800 in cash revenues and paid $19,020 in cash expenses. Jones withdrew $4,400 cash from the business during Year 1. Required Prepare the income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows for Jones's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Income Capital Balance Stmt of Statem... Statem... Sheet Cash Prepare a balance sheet. MARLIN JONES SOLE PROPRIETORSHIP Balance Sheet As of December 31, Year 1 Assets Balance Sheet Total assets Liabilities Equity Total liabilities and equity Problem: Module 3 Textbook Problem 9 Learning Objective: 3-9 Identify the primary characteristics of sole proprietorships, partnerships, and corporations A sole proprietorship was started on January 1, Year 1, when it received $44,500 cash from Marlin Jones, the owner. During Year 1, the company earned $40,800 in cash revenues and paid $19,020 in cash expenses. Jones withdrew $4,400 cash from the business during Year 1. Required Prepare the income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows for Jones's Year 1 fiscal year. Complete this question by entering your answers in the tabs below. Income Capital Balance Stmt of Statem... Statem... Sheet Cash Prepare a statement of cash flows. (Cash outflows should be indicated with a minus sign.) MARLIN JONES SOLE PROPRIETORSHIP Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities: Net cash flow from operating activities Cash flows from investing activities: Net cash flow from investing activities Cash flows from financing activities: Net cash flow from financing activities Net change in cash Ending cash balance
