Transaction Financial Statements Ber's Dry Clances is owned and operated by Beverly Zahn. A building and equipment are currently being rented, pending expansion to new facilities. The actual work of dry cleaning is done by another coat wholesale rates. The states, and common stock of the business on November 1, 2013, are as follows: Cash, $39.000: Accounts Receivable, 550,000: Supplies $11,000: 150,000 Accounts Povable 331,500: Common Stock $50,000. Business transaction during November are summarted as follows: & Beverly Zahnvested additional cash in exchange for comenon stock with a deposit of $21.000 in the business bank account. b. Purchased and adjacent to ted currently onned by Vs Dry Cleaners to use in the future as a parking lot, paying cash of $25,000 Pald runt for the month, $4,000 darved customers for dry degree on account, $72,000 e. Pald credito account. $20,000 Purchased supplies account 55,000 Received cash from customers for dry dening revenue 338.000 Receved cash from customers on account. $77,000 L. Received movie for dry dening expense for November (to be paid on December 10). $29.450. Paid the following wat expense, 124.000 truckerende 2.100 ter expense, $1,100; miscellaneous expense, $1,200 Determined that the cost of lies on hand was $11.000; therefore, the cost of upes used during the month was $7.200 Pod dividends. 55.000 Required 1. One the mounted of hovember 98,500 2. Stedents of inform that this chapter inform below the cation, indicate increases and decreases macho atraction for the ones which is the box and for those boves in which you must enter subtractive Assets Liabilities Showth Required: 1. De the amount trends of November 1,500 2. state the abilities and the guy of November in tion form similar to that shown in this chapter. In tabuta form below the equation, Indicate increases and decreases Transaction and the new balances ter each transaction for those boxes in which no Entry is required, leave the box blink. For those boxes in which you must enter subtractive besig (m+300) Assets Liabilities Stockholders' Equi Accounts Item Accounts Dry Common Cash Retained Dry Supplies Und Receivable Wages Payable Stock Dividends Earnings Cleaning Cleaning Expense Revenue Expense . . . 3a. Prepare an income statement for the month ended November 30, 2013. Bev's Dry Cleaners Income Statement For the Month Ended November 30, 20Y3 Dry cleaning revenue 110,000 Expenses: Accounts payable Accounts receivable Common stock Dry cleaning revenue 1110010 Retained earnings Utilities expense Supplies Total expenses Net income 3b. Prepare a statement of stockholders equiry for the month ended November 30, 20For those boxes who try is required the box tantowi incurred or dividende were uidenter that amount as a negative number using a minus son Bev's Dry Cleaners Statement of Stockholders' Equity For the Month Ended November 10, 2023 Common Stock Retained Earnings Total Qllll Bey's Dry Clean November 10, 2017 Bev's Dry Cleaners Balance Sheet November 30, 20Y3 Assets [0000 0 Total assets Liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity 4. Prenare a statement of cash flows for the month ending November 30, 4. Prepare a statement of cash flows for the month ending November 30, 2013. Use the minus sign to indicate cash outflows, cash payments, and decreases in cash, Bev's Dry Cleaners Statement of Cash Flows For the Month Ended November 30, 2013 Cash flows from (used for operating activities: DO Cash flows from used for investing activities Cash flow from used for financing activities 10
