This question has been answered on chegg in the past. However, full details and explanation of calculations for balance sheet and statement of cash flows (including which components contribute to the assets and liabilities fields in the balance sheet and breakdown of cash flows) were not provided previously.
Complete this question by entering your answers in the tabs below. Reg A1 Req A2 Req A3 Req A4 Prepare a period-end balance sheet for the 2018 accounting period. Prat Corp. Balance Sheet As of December 31, 2018 Assets Cash $ 33,000 $ 33,000 Total assets Liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity $ 0 Complete this question by entering your answers in the tabs below. Reg A1 Req A2 Req A3 Req A4 Prepare a statement of cash flows for the 2018 accounting period. (Amounts to be deducted should be indicated with a minus sign.) Prat Corp. Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities: Cash receipts from stock issue $ 7,400 Cash dividend to stockholders (2,300) Cash payments to creditors (6,000) Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities: $ (900) Net cash flow from financing activities 0 Ending cash balance $ 0 ! Required information Problem 1-34 Interrelationships among financial statements LO 1-5, 1-7, 1-8, 1-9 [The following information applies to the questions displayed below.] Prat Corp. started the 2018 accounting period with $33,000 of assets (all cash), $13,500 of liabilities, and $8,000 of common stock. During the year, the Retained Earnings account increased by $10,550. The bookkeeper reported that Prat paid cash expenses of $27,500 and paid a $2,300 cash dividend to the stockholders, but she could not find a record of the amount of cash that Prat received for performing services. Prat also paid $6,000 cash to reduce the liability owed to the bank, and the business acquired $7,400 of additional cash from the issue of common stock. Problem 1-34 Part a Required (Hint Determine the amount of beginning retained earnings before considering the effects of the current period events. It also might help to record all events under an accounting equation before preparing the statements.) a-1. Prepare an income statement for the 2018 accounting period. a-2. Prepare a statement of changes in stockholders' equity for the 2018 accounting period. a-3. Prepare a period-end balance sheet for the 2018 accounting period. a-4. Prepare a statement of cash flows for the 2018 accounting period
