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The Bryant Corporation was started during 2 0 1 9 . Since then some of its accounting information was lost and although some that data
The Bryant Corporation was started during Since then some of its accounting information was lost and although
some that data is missing, a comparative report of yearend account balances appears below. All numbers are as of
December unless noted otherwise.
Required:
a Prepare an income statement, statement of retained earnings and a balance sheet for each year and determine the
missing values.
b During January of the company had the following transactions:
Jan. Paid rent of $ for the month
Jan. Sold services to customers for $ on account
Jan. Borrowed $ from a bank
Jan. Purchased $ of equipment on account
Jan. Paid $ owed to suppliers for equipment previously purchased on account
Jan. Paid $ for advertising
Jan. Dividend of $ is paid to the owner
Jan. Received $ from customers on account
Jan. Purchased $ of supplies on account
Jan. Paid utility bill of $ for the month
Jan. Paid employee payroll of $
Jan. Supplies still on hand were reported at $
Prepare a tabular analysis for January, record the transactions and then prepare a statement of cash flows, income
statement, statement of retained earnings and balance sheet for the company.
c Assess the company's comparative results for the twoyear and onemonth period from the perspective of a bank and
then from the perspective of an investor ie did things get better or worse from those perspectives and why If you
were a bank would you lend the company more money? If you were an investor would you consider investing more
money in the company? Briefly explain your decisions.
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