The financial statements at the end of Ameba Realtys first month of operations are shown below. Instructions
Question:
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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Ameba Realty Income Statement For the Month Ended June 30, 2006 Fees earned Operating expenses: $18800 00 Wages expense Rent expense Supplies expense Utilities expense Miscellaneous expense 19 2 000 Total operating expenses 56000 Net income Ameba Realty Statement of Owner's Equity For the Month Ended June 30, 2006 Terry Garcia, capital, June 1, 2006 Investment on June 1, 2006 Net income for June Less withdrawals g) Increase in owner's equity Torry Garcia, capital, June 30, 2006 Ameba Realty Balance Sheet June 30, 2006 Assets Liabilities $118010001 Accounts payable Cash Supplies Land $96000 8 0000 Owner's Equity Terry Garcia, capital Total liabilities and Total assets 3owner's equity Ameba Realty Statement of Cash Flows For the Month Ended June 30, 2006 Cash flows from operating activities: Cash received from customers Deduct cash payments for expenses and n) payments to creditors Cash flows from investing activities Cash flows from financing activities: 40000 Not cash flow from operating activities Cash payments for acquisition of land 80000 Cash recelved as owner's investment Deduct cash withdrawal by owner Net cash flow from financing activities 480000 Net cash flow and June 30, 2006 cash balance
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All figures are in 00 a Wages expense 4300 9560 1920 1600 1080 660 b ...View the full answer
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Related Book For
Accounting
ISBN: 978-0324188004
21st Edition
Authors: Carl s. warren, James m. reeve, Philip e. fess
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