Pizza Express Incorporated began the Year 2 ljnj accounting period with $ 9 , 0 0 0
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Question:
Pizza Express Incorporated began the Year ljnj accounting period with $ cash; $ of common stock; and $ of retained earnings. Pizza Express was affected by the following accounting events during Year :
Purchased $ of supplies on account.
Earned and collected $ of cash revenue.
Paid $ cash on accounts payable.
Adjusted the records to reflect the use of supplies. A physical count indicated that $ of supplies was still on hand on December Year
Required:
Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. More specifically, record the amounts of the events into the model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities OA investing activities IA or financing activities FA The beginning balances are entered in the following example
Related Book For
Introductory Financial Accounting for Business
ISBN: 978-1260299441
1st edition
Authors: Thomas Edmonds, Christopher Edmonds
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