The business activities of Beaver Company during its first month of operations are as follows: 1....

 

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The business activities of Beaver Company during its first month of operations are as follows: 1. Becky and Bucky Beaver start a company that they incorporate as Beaver Company on September 1, 2020, they invest $15,000 cash in the business in exchange for $15,000 of common stock. 2. 3. 4. 5. 6. 7. 8. 9. 10. 1. 2. Beaver Company purchases computer equipment for $7,000 cash. Beaver Company purchases computer accessories expected to last several months for $1,600 from Lakeside Company. Lakeside Company agrees to allow Beaver Company to pay this bill in October. 3. 4. Beaver Company receives $1,200 cash from customers for services it has performed. Beaver Company receives a bill for $250 from the Daily News for advertising on its online website but postpones payment until a later date. Beaver Company performs $3,500 of services for customers. Beaver Company receives cash of $1,500 from customers, and it bills the balance of $2,000 on account. Required: In good form, prepare a(n) Beaver Company pays the following expenses in cash for September: office rent $600, salaries and wages of employees $900, and utilities $200. Beaver Company pays its $250 Daily News bill in cash. Beaver Company receives $600 in cash from customers who had been billed for services (in Transaction 6). Beaver Company pays a dividend of $1,300 in cash to Becky and Bucky Beaver, the stockholders of Beaver Company. Income Statement Retained Earnings Statement Balance Sheet Statement of Cash Flows The business activities of Beaver Company during its first month of operations are as follows: 1. Becky and Bucky Beaver start a company that they incorporate as Beaver Company on September 1, 2020, they invest $15,000 cash in the business in exchange for $15,000 of common stock. 2. 3. 4. 5. 6. 7. 8. 9. 10. 1. 2. Beaver Company purchases computer equipment for $7,000 cash. Beaver Company purchases computer accessories expected to last several months for $1,600 from Lakeside Company. Lakeside Company agrees to allow Beaver Company to pay this bill in October. 3. 4. Beaver Company receives $1,200 cash from customers for services it has performed. Beaver Company receives a bill for $250 from the Daily News for advertising on its online website but postpones payment until a later date. Beaver Company performs $3,500 of services for customers. Beaver Company receives cash of $1,500 from customers, and it bills the balance of $2,000 on account. Required: In good form, prepare a(n) Beaver Company pays the following expenses in cash for September: office rent $600, salaries and wages of employees $900, and utilities $200. Beaver Company pays its $250 Daily News bill in cash. Beaver Company receives $600 in cash from customers who had been billed for services (in Transaction 6). Beaver Company pays a dividend of $1,300 in cash to Becky and Bucky Beaver, the stockholders of Beaver Company. Income Statement Retained Earnings Statement Balance Sheet Statement of Cash Flows

Answer rating: 100% (QA)

To prepare the financial statements for Beaver Company based on the given business activities we will need to organize the transactions and then craft each statement in the appropriate order the Incom... View the full answer