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Required: Compute the missing amounts in the following table. 0/10 polnts awarded The night manager of Wong Transportation Service, who had no accounting background, prepared
Required: Compute the missing amounts in the following table. 0/10 polnts awarded The night manager of Wong Transportation Service, who had no accounting background, prepared the following balance sheet for the company at February 28 , current year. The dollar amounts were taken directly from the company's accounting records and are correct. However, the balance sheet contains a number of errors in its headings, format, and the classification of assets, liabilities, and owners' equity. Required: Prepare a corrected balance sheet. During the month of October, current year, Alvarez Company had the following transactions. Required: a. Revenues of $9,000 were earned and received in cash. b. Bank loans of $5,000 were paid off. c. Equipment of $3,200 was purchased for cash. d. Expenses of $5,400 were paid. e. Additional shares of capital stock were issued for $6,700 cash. Assuming that the cash balance at the beginning of the month was $13,000, prepare a statement of cash flows that displays operating, investing, and financing activities and that reconciles the beginning and ending cash balances. Note: List any deduction in cash and cash outflows with a minus sign. Jiminez, Incorporated, had the following transactions during the month of March, current year. Prepare an income statement based on this information, being careful to include only those items that should appear in that financial statement. Required: a. Cash received from bank loans was $10,000. b. Revenues earned and received in cash were $10,000. c. Dividends of $4,000 were paid to stockholders. d. Expenses incurred and paid were $5,400. incorrect: no points deducted. ivlation is
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