Cascade Company was started on January 1, Year 1, when it acquired $165,000 cash from the...

    

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Cascade Company was started on January 1, Year 1, when it acquired $165,000 cash from the owners. During Year 1, the company earned cash revenues of $95,300 and incurred cash expenses of $60,200. The company also paid cash distributions of $7,500. Required Prepare a Year 1 income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows under each of the following assumptions. (Consider each assumption separately.) c. Cascade is a corporation. It issued 10,000 shares of $8 par common stock for $165,000 cash to start the business. Complete this question by entering your answers in the tabs below. Inc Stmt Stmt of Changes Bal Sheet Prepare a income statement for Year 1. CASCADE COMPANY Income Statement For the Year Ended December 31, Year 1 $ Cash Flows Inc Stmt Stmt of Changes Bal Sheet Total stockholders' equity Cash Flows Prepare a statement of changes in stockholders' equity for Year 1. (Deductions should be indicated by a minus sign.) CASCADE COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 $ 0 0 0 Inc Stmt Assets Stmt of Changes Prepare a balance sheet for Year 1. Total Assets Liabilities Stockholders' equity Total paid-in capital Bal Sheet Cash Flows CASCADE COMPANY Balance Sheet As of December 31, Year 1 Total liabilities and Stockholders' equity $ $ 0 0 0 Stmt of Changes Prepare a statement of cash flows for Year 1. (Cash outflows should be indicated with a minus sign.) CASCADE COMPANY Statement of Cash Flows For the Year Ended December 31, Year 1 Inc Stmt Cash flows from operating activities: Bal Sheet Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities: Net cash flow from financing activities Net change in cash Ending cash balance Cash Flows $ $ 0 0 0 0 Cascade Company was started on January 1, Year 1, when it acquired $165,000 cash from the owners. During Year 1, the company earned cash revenues of $95,300 and incurred cash expenses of $60,200. The company also paid cash distributions of $7,500. Required Prepare a Year 1 income statement, capital statement (statement of changes in equity), balance sheet, and statement of cash flows under each of the following assumptions. (Consider each assumption separately.) c. Cascade is a corporation. It issued 10,000 shares of $8 par common stock for $165,000 cash to start the business. Complete this question by entering your answers in the tabs below. Inc Stmt Stmt of Changes Bal Sheet Prepare a income statement for Year 1. CASCADE COMPANY Income Statement For the Year Ended December 31, Year 1 $ Cash Flows Inc Stmt Stmt of Changes Bal Sheet Total stockholders' equity Cash Flows Prepare a statement of changes in stockholders' equity for Year 1. (Deductions should be indicated by a minus sign.) CASCADE COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 $ 0 0 0 Inc Stmt Assets Stmt of Changes Prepare a balance sheet for Year 1. Total Assets Liabilities Stockholders' equity Total paid-in capital Bal Sheet Cash Flows CASCADE COMPANY Balance Sheet As of December 31, Year 1 Total liabilities and Stockholders' equity $ $ 0 0 0 Stmt of Changes Prepare a statement of cash flows for Year 1. (Cash outflows should be indicated with a minus sign.) CASCADE COMPANY Statement of Cash Flows For the Year Ended December 31, Year 1 Inc Stmt Cash flows from operating activities: Bal Sheet Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities: Net cash flow from financing activities Net change in cash Ending cash balance Cash Flows $ $ 0 0 0 0

Answer rating: 100% (QA)

CASCADE COMPANY Income Statement For the Year Ended December 31 Year 1 Revenues 95300 Less Expenses ... View the full answer