Question:
The financial statements at the end of Wolverine Realty's first month of operations are as follows:
Instructions
By analyzing the interrelationships among the four financial statements, determine the proper amounts for A through Q.
Financial Statements
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:
Wolverine Realty Balance Sheet April 30, 2018 Assets $462,500 12,500 150,000 Supplies... Total assets $ 100,000 Stockholders'Equity Retained earnings Total stockholders' equity Total liabilities and stockholders equity.............................. Wolverine Realty Statement of Cash Flows For the Month Ended April 30, 2018 Cash flows from operating activities: Cash payments for expenses and payments to creditors.......... 387 500 s L Net cash flows from operating activities.................. Cash payments tor acquisition ot land.. Cash recelved from issuing Cash flows used for investing activities: Cash flows from financing activities: common stock.... Cash dividends. Net cash flows from financing activities............. Net increase (decrease) in cash and April 30, 2018, cash balance... Wolverine Realty Balance Sheet April 30, 2018 Assets $462,500 12,500 150,000 Supplies... Total assets $ 100,000 Stockholders'Equity Retained earnings Total stockholders' equity Total liabilities and stockholders equity.............................. Wolverine Realty Statement of Cash Flows For the Month Ended April 30, 2018 Cash flows from operating activities: Cash payments for expenses and payments to creditors.......... 387 500 s L Net cash flows from operating activities.................. Cash payments tor acquisition ot land.. Cash recelved from issuing Cash flows used for investing activities: Cash flows from financing activities: common stock.... Cash dividends. Net cash flows from financing activities............. Net increase (decrease) in cash and April 30, 2018, cash balance...