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what else am i missing ? computer is telling me incomplete Pizza Express Inc, began the Year 2 accounting period with $2,500 cash, $1,400 of
what else am i missing ? computer is telling me incomplete
Pizza Express Inc, began the Year 2 accounting period with $2,500 cash, $1,400 of common stock, and $1100 of retained earnings. Pizza Express was affected by the following accounting events during Year 2 1. Purchased $3,600 of supplies on account 2. Eamed and collected $12300 of cash revenue. 3. Paid $2,700 cash on accounts payable. 4. Adjusted the records to reflect the use of supplies. A physical count indicated that $250 of supplies was still on hand on December 31. Year 2 Required a. Show the effects of the events on the financial statements using a horizontal statements model given below. In the Statement of Cash Flows column, use OA to designate operating activity, IA for Investing activity, FA for financing activity, and NC for ner change in cash. The beginning balances have been recorded as an example. (Enter any decreases to account balances with a minus sign. Not all cells in the "Statement of Cash Flows column may require an input leave cells blank if there is no corresponding input needed.) Assets Statement of Cash Flows Event Supplies Beg bal 1. 2 PIZZA EXPRESS INC Effect of Events on Financial Statements for Year 2 Balance Sheet Income Statement Liabilities Stockholders' Equity Revenue Expense = Net Income Accounts Common Retained Payable Stock Earnings 1.400 1.100 3800 + 12 300 12.300 (12.300 = 2.700 (3.350 3.350 (3,350 900 1.400 12.300 3.350 = (15.650) Cash 2.500 - 12 3001 - 2.700) - + 12.100- 3.600 123001 OA 2.700 = 4 (3.350) 260 10.050 9.000 OA Totals Step by Step Solution
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