Question
Reporting Amounts on the Four Basic Financial Statements and Evaluating Financial Statements [LO 1-2, LO 1-3] [The following information applies to the questions displayed below.]
Reporting Amounts on the Four Basic Financial Statements and Evaluating Financial Statements [LO 1-2, LO 1-3] [The following information applies to the questions displayed below.] The following information for the nine months ended September 30, 2013 was reported by OpenReservation, Inc. Accounts Payable $ 56,000 Accounts Receivable 33,800 Cash (balance on January 1, 2013) 106,400 Cash (balance on September 30, 2013) 89,000 Common Stock 135,500 Dividends 0 Equipment 147,700 Income Tax Expense 11,200 Interest Expense 30,600 Inventory 18,300 Notes Payable 35,000 Prepaid Rent 8,100 Office Expense 15,400 Retained Earnings (beginning) 11,800 Salaries and Wages Expense 36,800 Service Revenue 159,800 Utilities Expense 26,200 Salaries and Wages Payable 19,000 Other cash flow information: Cash from issuing common stock $ 32,000 Cash paid to acquire common stock 36,500 Cash paid for income taxes 12,100 Cash paid to purchase long-term assets 63,400 Cash paid to suppliers and employees 96,400 Cash received from customers 159,000
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