The financial statements at the end of Cyber Realty's first month of operations are shown below. Instructions
Question:
The financial statements at the end of Cyber Realty's first month of operations are shown below.
Instructions
By analyzing the interrelationships among the four financial statements, determine the proper amounts for (a) through(q).
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
Transcribed Image Text:
Cyber Realty Income Statement For the Month Ended October 31, 2012 $250,000 Expenses: Supplies expense Utilities expense Miscellaneous expense. 30,000 11,000 9,000 3,000 180,000 $(b) Net income Cyber Realty Statement of Owner's Equity For the Month Ended October 31, 2012 $ (c) Investment on October 1, 2012 Net income for October $ (d) 5 (f) Less withdrawals se in owner's equity Kendra Garcia, capital, October 31, 2012 Cyber Realty Balance Sheet October 31, 2012 Assets Liabllitles Cash. . $77,000 Accounts payable 8,000 30,000 Owner's Equity Kendra Garcia, capital Total assets () Total liabilities and owners equity 5 (m) Cyber Realty Statement of Cash Flows For the Month Ended October 31, 2012 Cash flows from operating activities: Cash received from customers Deduct cash payments for expenses and payments to creditors... Net cash flow from operating activities.. $ (n) 158,000 5 (0) Cash flows from investing activities: Cash payments for acquisition of land..... 75,000) Cash flows from financing activities: Cash received as owner's investment Deduct cash withdrawal by owner Net cash flow from financing activities 100,000 40,000 Net cash flow and October 31, 2012, cash balance
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 56% (16 reviews)
a Wages expense 127000 180000 30000 11000 9000 3000 b Net income 70000 250000 180000 c Kendra ...View the full answer
Answered By
Salmon ouma
I am a graduate of Maseno University, I graduated with a second class honors upper division in Business administration. I have assisted many students with their academic work during my years of tutoring. That has helped me build my experience as an academic writer. I am happy to tell you that many students have benefited from my work as a writer since my work is perfect, precise, and always submitted in due time. I am able to work under very minimal or no supervision at all and be able to beat deadlines.
I have high knowledge of essay writing skills. I am also well conversant with formatting styles such as Harvard, APA, MLA, and Chicago. All that combined with my knowledge in methods of data analysis such as regression analysis, hypothesis analysis, inductive approach, and deductive approach have enabled me to assist several college and university students across the world with their academic work such as essays, thesis writing, term paper, research project, and dissertation. I have managed to help students get their work done in good time due to my dedication to writing.
5.00+
4+ Reviews
16+ Question Solved
Related Book For
Question Posted:
Related Video
In order to determine the amount of cash created by operating operations, the indirect technique for preparing the statement of cash flows entails adjusting net income with changes in balance sheet.
Students also viewed these Accounting questions
-
The financial statements at the end of Sciatic Realty, Inc.s first month of operation are shown below. By analyzing the interrelationships between the financial statements, fill in the proper amounts...
-
The financial statements at the end of Flagstone Consulting, Inc.s first month of operation are shown below. By analyzing the interrelationships between the financial statements, fill in the proper...
-
The financial statements at the end of Sayre Realty, Inc.s first month of operation are shown below. By analyzing the interrelationships among the financial statements, fill in the proper amounts for...
-
Sally works as a welder at Heavy Iron Works Company. She is the only female welder in a shop with ten male welders. Teddy is the manager of that shop with Sally and the ten male welders. Sally is...
-
Rollins Mailboxes produces decorative mailboxes. The company's average cost per unit is $20.43 when it produces 1,600 mailboxes. Requirements 1. What is the total cost of producing 1,600 mailboxes?...
-
A class project should be designed to conduct a test in which each student is given a taste of Coke and a taste of Pepsi. The student is then asked to identify which sample is Coke. After all of the...
-
With reference to Exercise 11.75, use the method of Section 11.2 to construct a \(95 \%\) confidence interval for \(\gamma\). State what assumptions will have to be made. Data From Exercise 11.75...
-
The Lakeshore Hotels guest-days of occupancy and custodial supplies expense over the last seven months were; Guest-days is a measure of the overall activity at the hotel. For example, a guest who...
-
Suppose two children push horizontally, but in exactly opposite directions, on a third child in a sled. The first child exerts a force of 74 N, the second a force of 99 N, kinetic friction is 7.5 N,...
-
Branson Industries conducts operations in five major industries, A, B, C, D, and E. Financial data relevant to each industry for the year ending December 31, 2019, are as follows: Included in the...
-
Annys Dry Cleaners is owned and operated by Anny Brum. A building and equipment are currently being rented, pending expansion to new facilities. The actual work of dry cleaning is done by another...
-
Pat Sharpe enjoys listening to all types of music and owns countless CDs. Over the years, Pat has gained a local reputation for knowledge of music from classical to rap and the ability to put...
-
1. The following information pertains to Kane Co.s defined benefit pension plan: Prepaid pension cost (net asset), January 1, 2009 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $...
-
Your line manager, Ms Lionheart, has collected and scrutinised performance data for the company. She was concerned that the inventories were high for certain products which had resulted in...
-
High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company s job - order costing system uses departmental predetermined overhead rates to apply manufacturing...
-
Fresh Water, Inc. Executed the sale of a series of 30-year bonds with a par value of $1,000 to the general public. The bonds offer an annual coupon rate of 10.63 percent, with interest payments made...
-
Delph Company uses a job - order costing system and has two manufacturing departments Molding and Fabrication. The company provided the following estimates at the beginning of the year: Molding...
-
You tell the waitperson that you are Vegan and ask you what items on the menu are suitable to eat. The waitperson tells you they are not sure as this is their first shift and asks you if they can...
-
Managers making facility location decisions should carefully consider tariffs and tax incentives, because network designers can use this fact to influence the role of the new facility and the focus...
-
Match the following. Answers may be used more than once: Measurement Method A. Amortized cost B. Equity method C. Acquisition method and consolidation D. Fair value method Reporting Method 1. Less...
-
What are the two main kinds of documents that accompany exports?
-
1. What year are you preparing your students for? 1973? 1995? Provide evidence that your school's curriculum and the program you use are preparing your students for 2030? Are you even preparing them...
-
2 Classify each type of numerical data as discrete (D) or continuous (C). a number of homes with solar power b patients' body temperatures c sizes of the crowds at rock concerts d star ratings of...
-
What role does the use of either mimesis or abstraction play in each example? (Keep in mind that the concepts of mimesis and abstraction in the creative arts are defined and explored in the document...
Study smarter with the SolutionInn App