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The following list of accounts was drawn from the accounts of Little Grocery Supplier ( LGS ) as of December 3 1 , Year 1
The following list of accounts was drawn from the accounts of Little Grocery Supplier LGS as of December Year : tableLITTLE GROCERY SUPPLIER LGSFor the Year Ended December Year Cash flows from operating activities:,,Inflow from customers,,Outflow for expenses,,Outflow for expenses,,$Net cash flow from operating activities,,Cash flows from investing activities:,,Outflow for notes receivable,,Net cash flow from investing activities,,Cash flows from financing activities:,,Cash flows from financing activities:,,Net change in cash,,Ending cash balance,,
Req B Balance Sheet Prepare a balance sheet for Year
Note: Be sure to list the assets in the order of their liquidity. Enter all final answ
Transactions for Year :
Acquired an additional $ cash from the issue of common stock.
Purchased $ of inventory on account.
Sold inventory that cost $ for $ Sales were made on account.
The company wrote off $ of uncollectible accounts.
On September LGS loaned $ to Eden Company The note had an percent interest rate and a oneyear term.
Paid $ cash for operating expenses.
The company collected $ cash from accounts receivable.
A cash payment of $ was paid on accounts payable.
The company paid a $ cash dividend to the stockholders.
Uncollectible accounts are estimated to be percent of sales on account.
Recorded the accrued interest at December Year see item
Required
a Organize the transaction data in accounts under an accounting equation.
b Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for
Year
I need help with the Balance Sheet and Statement of Cash Flows
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