Fill in the blanks (indicated by the alphabetic letters in parentheses) in the following financial statements. Assume
Question:
Fill in the blanks (indicated by the alphabetic letters in parentheses) in the following financial statements. Assume the company started operations January 1, 2018, and all transactions involve cash.
Transcribed Image Text:
For the Years 2018 2019 2020 Income Statements s 700 1002.000 (a)(700) (1.300) $ 200 (m 700 1,300 $2,000 Revenue Expense Net income Statement of Changes in Stockholders' Equity $ 0$(n) 6,000 2,000 Beginning common stock Plus: Common stock issued Ending common stock Beginning retained earnings Plus: Net income Less: Dividends Ending retained earnings Total stockholders' equity 5000 1,000 5,0006,000 v) 200 700 100 500 100 600 5 d 6.200 8 Balance Sheets Assets $ (e(g) (u) 8,000 Cash Land Total assets Liabilities Stockholders' equity $(f)$11,200 $10,600 19)5 5,0002,000 Common stock Retained earnings 8,000 600 8,600 10,600 200 6,200 Total stockholders' equity Total liabilities and stockholders' equity Statements of Cash Flows Cash flows from operating activltles $(k) 1,300 (v) Cash receipts from customers (700) 600 Cash payments for expenses 200 700 Net cash flows from operating activities Cash flows from Investing activltles (8,000) 3,000 1,000 Cas h payments for land Cash flows from financing activitles 3,000 Cash receipts from loan Cas 0 (1.000 5,000 (100) 7,900 8,100 h payments to reduce debt Cash receipts from stock issue Cash payments for dividends Net cash flows from financing activities Net change in cash Plus: Beginning cash balance Ending cash balance 2,500 (4,900) 8,100 $8,100 3,200 $2,600 1,3 (600) 3,200
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 83% (12 reviews)
FOR THE YEARS 2018 2019 2020 Income Statements Revenue cash 700 1300 2000 Expense cash a 500 700 1300 Net Income Loss 200 m 600 700 Statements of Changes in Stockholders Equity Beginning Common Stock ...View the full answer
Answered By
Milan Mondal
I am milan mondal have done my Msc in physics (special astrophysics and relativity) from the University of burdwan and Bed in physical science from the same University.
From 2018 I am working as pgt physics teacher in kendriya vidyalaya no2 kharagpur ,west bengal. And also I am doing advanced physics expert in chegg.com .also I teach Bsc physics .
I love to teach physics and acience.
If you give me a chance I will give my best to you.
5.00+
4+ Reviews
10+ Question Solved
Related Book For
Survey of Accounting
ISBN: 978-1259631122
5th edition
Authors: Thomas Edmonds, Christopher Edmonds, Philip Olds, Frances McNair, Bor Yi Tsay
Question Posted:
Students also viewed these Managerial Accounting questions
-
Missing information in financial statements Required Fill in the blank (as indicated by the alphabetic letters in parentheses) in the following financial statements. Assume the company started...
-
Missing information in financial statements Required Fill in the blanks (indicated by the alphabetic letters in parentheses) in the following financial statements. Assume the company started...
-
Required Fill in the blanks (indicated by the alphabetic letters in parentheses) in the following financial statements. Assume the company started operations January 1, 2016, and all transactions...
-
The software inSSIDer from metageek lets you scan surroundingWiFi networks. Download inSSIDer 3.1.2.1 from the following link:http://www.techspot.com/downloads/5936-inssider.html a....
-
I. M. Appelpolscher has acquired considerable knowledge of pneumatic control valves over the years. In particular, he knows that the flow characteristic of a quick-opening valve is f = which is one...
-
Actual quarterly earnings and quarterly estimates of annual earnings for Sloan Company for the year ended December 31, 2024 are as follows: The combined state and federal tax rate for 2024 is 30%....
-
Dash Delivery Co. Ltd operates a freight service and is planning the next years operation. The companys assets are estimated to be \($30\) 400 000 at the beginning of the financial year and \($30\)...
-
Compute Income Measures Presented below is information related to Viel Company at December 31, 2010, the end of its first year of operations. Sales revenue...................... 310,000 Cost of goods...
-
Suppose a chair manufacture has the following costs and sales expectations: Total variable costs: $ 1 , 0 0 0 , 0 0 0 Total fixed costs: $ 4 0 0 , 0 0 0 Expected unit sales: 2 0 , 0 0 0 1 . With...
-
Create a list of at least 10 books (Title, Author, Price, Book_id) with the following functions: 1) Sequential insert in the list on the basis of Book_id 2) Sequential delete in the list and then...
-
The following accounts and balances were drawn from the records of Barker Company at December 31, 2018: Required Use the accounts and balances from Barker Company to construct an income statement,...
-
Alcorn Service Company was formed on January 1, 2018. Events Affecting the 2018 Accounting Period 1. Acquired $20,000 cash from the issue of common stock. 2. Purchased $800 of supplies on account. 3....
-
Light from a heliumneon laser ( = 632.8 nm) is incident on a single slit. What is the maximum width for which no diffraction minima are observed?
-
3.2. Generate thirty points (x,y;), i = 1,2,..., 30, by the MATLAB code randn ('seed', 314); x=linspace(0, 1,30)'; y=2*x.^2-3 *x+1+0.05*randn (size (x)); Find the quadratic function y = ax +bx+c that...
-
Lyle plans to invest $2,000 at the end of each 6-month period into a retirement account that earns an annual rate of 16% compounded semiannually. If he continues with his plan for 3 years, use the...
-
6. The standard algorithm for multiplying two n-bit binary integers r and y costs (n). A naive divide-and-conquer algorithm is to let z=: 2/2a +b and y = 2n/c+d, then ry = = (2/2a + b) (2/2c+d) 2" ac...
-
Consider the following function, whose functional form changes for different intervals along the x-axis: f(x) = 1, x +1, -x + 2x + 1, 1, x < 0 0 x < 1 x2 1
-
Complete the financial ratios template for 2022 and 2023 (Note: You are required to interpret the ratios by commenting in the comments column in the spreadsheet) MAMB Ltd. Income Statement for the...
-
A large tanker truck can carry 20 tons (40,000 lb) of liquid. (a) What volume of water can it carry? (b) What volume of gasoline can it carry?
-
A spacecraft has left the earth and is moving toward Mars. An observer on the earth finds that, relative to measurements made when the spacecraft was at rest, its a. length is shorter b. KE is less...
-
Which of the following qualities are characteristic of fixed assets? (a) Tangible, (b) Capable of repeated use in the operations of the business, (c) Held for sale in the normal course of business,...
-
Just Animals Co. acquired an adjacent vacant lot with the hope of selling it in the future at a gain. The lot is not intended to be used in Just Animals business operations. Where should such real...
-
Distinguish between the accounting for capital expenditures and revenue expenditures.
-
Estimate the final temperature in Celsius of the combination if I drop 5 rolls of pennies at 2 0 C ( each roll is 5 0 pennies stacked together; assume they are pure copper ) into a cup of recently -...
-
A 100 gram mass is hung of then end of a cantilever beam . The beam is made of brass, and is 30 cm long (), 2 cm wide, and 3 mm thick. Find the resulting deflection ()
-
The nitrogen-vacancy (NV) and silicon-vacancy (SiV) defects in diamond can lead to many exciting quantum nanotechnologies in physical and biological sciences, including single-photon sensors,...
Study smarter with the SolutionInn App