Missing information in financial statements Required Fill in the blank (as indicated by the alphabetic letters in
Question:
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 operations January 1, 2010, and that all transactions involvecash.
Financial StatementsFinancial 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...
Transcribed Image Text:
For the Years 2010 2011 Income Statements Revenue Expense Net income S 700 1,300 2,000 1,300) S 200 Im 700 Statement of Changes in Stockholders Equity Beginning common stock Plus: Common stock issued Ending common stock Beginning retained earnings Plus: Net income Less: Dividends S (n6,000 5,00000 2000 5000 600t 200 700 100 Ending retained earnings Total stockholders equity 100p600 $ (d) 6,200 8,600 Balance Sheets Assets S (e Sq (u) 8,000 s $11200 10,600 S (g) S5,0002000 Cash Land Total assets Liabilities Stockholders' equity 8,000 Common stock Retained earnings (hl 600 ( 208,600 $8100 11200 10,600 200 Total stockholders' equity Total iabilities and stockholders' equity Statements of Cash Flows Cash flows from operating activities Cash receipts from revenue Cash payments for expenses 0 700 200 (wi 700 Net cash flows from operating activities Cash flows from investing activities 600 0(8,000) 0 3,000 5,000 7900 Cash payments for land Cash flows from financing activities Cash receipts from loan Cash payments to reduce debt Cash receipts from stock issue Cash payments for dividend:s 3,000 1,000) 1,000 (100)1500)z) 2,500 4,900) 8,100 ly) (1,300) Net cash flows from financing activities Net change in cash Plus: Beginning cash balance Ending cash balance 8,100 (600) 3,200 S8,100 3200 $2600
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 76% (17 reviews)
FOR THE YEARS 2010 2011 2012 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
Pushpinder Singh
Currently, I am PhD scholar with Indian Statistical problem, working in applied statistics and real life data problems. I have done several projects in Statistics especially Time Series data analysis, Regression Techniques.
I am Master in Statistics from Indian Institute of Technology, Kanpur.
I have been teaching students for various University entrance exams and passing grades in Graduation and Post-Graduation.I have expertise in solving problems in Statistics for more than 2 years now.I am a subject expert in Statistics with Assignmentpedia.com.
4.40+
3+ Reviews
10+ Question Solved
Related Book For
Survey of Accounting
ISBN: 978-0078110856
3rd Edition
Authors: Thomas P. Edmonds, Frances M. McNair, Philip R. Olds, Bor Yi
Question Posted:
Students also viewed these Accounting questions
-
Freeman Co. began operations on January 1, 2010, and completed several transactions during 2010 and 2011 that involved sales on credit, accounts receivable collections, and bad debts. These...
-
A big organization decides to construct new plants to produce products and satisfy customers demand in five regions while minimizing the relevant costs. The fixed costs, variable costs (production...
-
The following information is an extract from the financial statements of Diego Ltd SoFP extracts (s) Equity Share capital Share premium Retained earnings Current liabilities Interest payable...
-
1. Insurance Act, RSBC 1996 c226 Read Parts 1 and 2 of this statute and describe any changes to the standard commonlaw rules for contracts that you notice. 2. KP Pacific Holdings Ltd. and Churchland...
-
From its company-owned natural spring in northern Ontario, Fountain Springs Inc. bottles and distributes mineral water worldwide. Fountain Springs markets its product in 1-litre disposable plastic...
-
Write line-bond structures for the following substances, showing all nonbonding electrons: (a) CHCl3, chloroform (b) H2S, hydrogen sulfide (c) CH3NH2, methylamine (d) CH3Li,methyllithium
-
Pay-later options are options for which the buyer is not required to pay the premium up front (i.e., at the time that the contract is entered into). At expiration, the holder of a pay-later option...
-
Moe Green estimates the cost of future projects for a large contracting firm. Mr. Green uses precisely the same techniques to estimate the costs of every potential job, and formulates bids by adding...
-
The balance sheet for Carla Vista Co. is as follows: Carla Vista Co. Balance Sheet December 31, 2022 Cash $ 24,000 Accounts payable $ 3,800 Accounts receivable 22,700 Salaries and wages payable 2,800...
-
DeBauge Realtors Inc. is a realty firm owned by Jeff and Kristi DeBauge. The DeBauge family owns 100% of the corporation?s stock. The following summarized data (in thousands) are taken from the...
-
The following information was drawn from the records of Paso & Associates at December 31, 2012. Required Use the preceding information to construct an income statement, statement of changes in...
-
Understanding real-world annual reports Required Use the Target Corporations annual report in Appendix B to answer the following questions. Note that net income and net earnings are synonymous terms....
-
Form groups of about six people, and discuss how you feel about making oral presentations. Next, pretend that you are the members of the discussion group described in Case 11.1, and decide how you...
-
Cherries farmers have a very bad year, the production of cherries has decreased from 150 million kg to 100 million kg. The price of cherries increased from $8 per kg to $10 per kg. On the other hand,...
-
Consider a company advancing a project with two scenarios, whose probability is 30% (Unfavorable) and 70% (Favourable). It is necessary to invest at t=1 an additional USD 100 million to promote the...
-
ABC Company sends 200 000 copies of its newspapers to DEF Stores on July 1st. And the retail price is Php 20. The price charged by ABC Company to DEF Stores is Php 10. During the month of July, DEF...
-
In 2020, a certain company's net income was $200,000 . Their net income is projected to increase by 12% each year. This can be modeled by f(x)=200,000(1 0.12)x , where x is the number of years since...
-
Why are the procedures for conducting an audit complex to understand? Include a summary of the topic, and what can be done to make it easier to understand it.
-
Only a small number of coupons are ever redeemed. What can the visual and verbal message say/do to ensure their use? Explain.
-
Southwestern Punch was made by Frutayuda, Inc. and sold in 12-ounce cans to benefit victims of Hurricane Zero. The mean number of ounces placed in a can by an automatic fill pump is 11.7 with a...
-
For several days Dyquan Gibson and his friends had a strong incentive to study every afternoon at a neighborhood Richmond, Virginia, Boys & Girls Club. If you finished your homework, you got a...
-
Blake Gable has recently been hired as the manager of Jittery Jims Canyon Coffee. Jittery Jims Canyon Coffee is a national chain of franchised coffee shops. During his first month as store manager,...
-
Anasazi Earth Clothing is a retail store specializing in womens clothing. The store has established a liberal return policy for the holiday season in order to encourage gift purchases. Any item...
-
First Kenmore Bank provides loans to businesses in the community through its Commercial Lending Department. Small loans (less than $100,000) may be approved by an individual loan officer, while...
-
www The sugar cane industry is a big industry on Hawaii. Raw sugar cane is first cut from the fields, then chopped and shredded. The raw cane contains 15 wt% sucrose, 25 wt% solids, and water, along...
-
Keri, in forming a new corporation, transfers land to the corporation in exchange for 100 percent of the stock of the corporation. Keri's basis in the land is $295,000, and the corporation assumes a...
-
What does a manager who subscribes to Theory X believes ? Explain thoroughly.
Study smarter with the SolutionInn App