The financial statements at the end of Cyber Realty's first month of operations are shown below. Instructions
Question:
The financial statements at the end of Cyber Realty's first month of operations are shown below.
Instructions
By analyzing the interrelationships among the four financial statements, determine the proper amounts for (a) through(q).
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Cyber Realty Income Statement For the Month Ended October 31, 2012 $250,000 Expenses: Supplies expense Utilities expense Miscellaneous expense. 30,000 11,000 9,000 3,000 180,000 $(b) Net income Cyber Realty Statement of Owner's Equity For the Month Ended October 31, 2012 $ (c) Investment on October 1, 2012 Net income for October $ (d) 5 (f) Less withdrawals se in owner's equity Kendra Garcia, capital, October 31, 2012 Cyber Realty Balance Sheet October 31, 2012 Assets Liabllitles Cash. . $77,000 Accounts payable 8,000 30,000 Owner's Equity Kendra Garcia, capital Total assets () Total liabilities and owners equity 5 (m) Cyber Realty Statement of Cash Flows For the Month Ended October 31, 2012 Cash flows from operating activities: Cash received from customers Deduct cash payments for expenses and payments to creditors... Net cash flow from operating activities.. $ (n) 158,000 5 (0) Cash flows from investing activities: Cash payments for acquisition of land..... 75,000) Cash flows from financing activities: Cash received as owner's investment Deduct cash withdrawal by owner Net cash flow from financing activities 100,000 40,000 Net cash flow and October 31, 2012, cash balance
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a Wages expense 127000 180000 30000 11000 9000 3000 b Net income 70000 250000 180000 c Kendra ...View the full answer
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