Question: Utilizing the information given below generate the first 3 financial statements on the next two pages for Dec. 31 of 2016 for Billy Bob Inc.

Utilizing the information given below generate the first 3 financial statements on the next two pages for Dec. 31 of 2016 for Billy Bob Inc. Cash... ....25,000 Accounts receivable......... 10,000 Cash withdrawals by owner.... ..13,000 Owners investment..... ....180,0000 .... Service Revenue earned............... .......60,000 Rent expense... .......12,000 Prepaid insurance...... ......... 1,500 Land........... ...180,000 Salaries expense....... .....16,000 Telephone expense...... ...4,000 Computer equipment.. ........7,000 Office equipment.......... ............. .4,500 Deprec. Expense - computer equipment......2,000 Accounts payable... 3,000 Deprec. Expense - office equipment...........1,600 Notes payable... -30,000 Interest expense.... .... 1,400 44..... Interest revenue....... 5,000 ...... Utilizing the information from above information for Billy Bob Inc. and the information provided below, generate a Statement of Cash Flows on Dec. 31, 2016 on the nest page. Owners original investment was 13,500 cash and 166,500 land The rent, salaries and paid in full and 1000 cash is paid on the telephone expense with the rest on account Both the service revenue and the interest revenue have been received in cash Billy Bob Inc. paid cash for the total amount for the computer and office equipment
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