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.
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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
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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
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Related Book For
Survey of Accounting
ISBN: 978-1259631122
5th edition
Authors: Thomas Edmonds, Christopher Edmonds, Philip Olds, Frances McNair, Bor Yi Tsay
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