Question: Required a. Organize the transaction data in accounts under an accounting equation. b. Prepare an income statement, a statement of changes in stockholders' equity, a






Required a. Organize the transaction data in accounts under an accounting equation. b. Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flow Year 2. Complete this question by entering your answers in the tabs below. Prepare a statement of changes in stockholders' equity for Year 2. (Enter all final answers in whole dollars. Enter cash outflows with a minus sign.) The following list of accounts was drawn from the accounts of Little Grocery Supplier (LGS) as of December 31, Year 1 : Transactions for Year 2 1. Acquired an additional $9,600 cash from the issue of common stock. 2. Purchased $61,800 of inventory on account. 3. Sold inventory that cost $61,700 for $93,900. Sales were made on account. 4. The company wrote off $1,480 of uncollectible accounts. 5. On September 1 , LGS loaned $11,000 to Eden CO. The note had an 8 percent interest rate and a one-year term. 6. Paid $15,130 cash for operating expenses. 7. The company collected $74,420 cash from accounts receivable. 8. A cash payment of $52,560 was paid on accounts payable. 9. The company paid a $4,400 eash dividend to the stockholders. 10. Uncollectible accounts are estimated to be 2 percent of sales on account. 11. Recorded the accrued interest at December 31, Year 2 (see item 5). Required a. Organize the transaction data in accounts under an accounting equation. b. Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows fo Year 2. Complete this question by entering your answers in the tabs below. Prepare a statement of cash flows for Year 2. (Enter cash outflows with a minus sign. Enter all final answers in whole dollars.) Complete this question by entering your answers in the tabs below. Prepare a balance sheet for Year 2. (Be sure to list the assets in the order of their liquidity. Enter all final answers in whole dollars.) a. Organize the transaction data in accounts under an accounting equation. b. Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for Year 2. Complete this question by entering your answers in the tabs below. Organize the transaction data in accounts under an accounting equation. (Do not round intermediate calculations. Enter any decreases to account balan Titles for Retained Earnings, leave the cell blank. Not all cells will require entry. Round your final answers to the nearest whole dollar.) b. Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cas Year 2. Complete this question by entering your answers in the tabs below. Prepare an income statement for Year 2. (Enter all final answers in whole dollars.) Complete this question by entering your answers in the tabs below. Prepare a statement of cash flows for Year 2. (Enter cash outflows with a minus sign. Enter all final answers in whole dollar
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