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Bruce Spree | Answer a | |||||||||||||||||
Event No. | Balance Sheet | Income Statement | Statement of Cash flows | |||||||||||||||
Assets | Liabilities | Stockholder's Equity | Revenue | - | Expense | = | Net Income | |||||||||||
Cash | + | Land | = | Notes Pay | + | Common Stock | + | Retained Earnings | ||||||||||
1 | 75,000.00 | + | NA | = | NA | + | 75,000.00 | + | NA | NA | - | NA | = | NA | 75,000.00 | FA | ||
2 | 48,000.00 | + | NA | = | NA | + | NA | + | 48,000.00 | 48,000.00 | - | NA | = | 48,000.00 | 48,000.00 | OA | ||
3 | (34,000.00) | + | NA | = | NA | + | NA | + | (34,000.00) | NA | - | 34,000.00 | = | (34,000.00) | (34,000.00) | OA | ||
4 | 20,000.00 | + | NA | = | 20,000.00 | + | NA | + | NA | NA | - | NA | = | NA | 20,000.00 | FA | ||
5 | (38,000.00) | + | 38,000.00 | = | NA | + | NA | + | NA | NA | - | NA | = | NA | (38,000.00) | IA | ||
6 | (2,000.00) | + | NA | = | NA | + | NA | + | (2,000.00) | NA | - | NA | = | NA | (2,000.00) | FA | ||
69,000.00 | + | 38,000.00 | = | 20,000.00 | + | 75,000.00 | + | 12,000.00 | 48,000.00 | - | 34,000.00 | = | 14,000.00 | 69,000.00 | NC |
Income Statement | Amount $ | ||
Revenue | 48,000.00 | ||
Less: Operating Expenses | 34,000.00 | ||
Net Income | 14,000.00 | ||
Statement of changes in Stockholder's Equity | |||
Common Stock | 75,000.00 | ||
Retained earnings | |||
Net Income | 14,000.00 | ||
Less: Dividend | 2,000.00 | ||
Retained earnings | 12,000.00 | ||
Stockholder's Equity | 87,000.00 | ||
Balance Sheet | Amount $ | ||
Assets | |||
Current Assets | |||
Cash | 69,000.00 | ||
Non Current Assets | |||
Land | 38,000.00 | ||
Total Assets | 107,000.00 | ||
Liabilities & Stockholder's Equity | |||
Liabilities | |||
Current Liabilities | - | ||
Non Current Liabilities | |||
Note Payable | 20,000.00 | ||
Total Liabilities | 20,000.00 | ||
Stockholder's Equity | 87,000.00 | ||
Liabilities & Stockholder's Equity | 107,000.00 |
Statement of cash flows: | |||||
Cash Flow from Operating Activities | |||||
Cash Received from Customers | 48,000.00 | ||||
Cash paid for Operating Expense | (34,000.00) | ||||
Net Cash provided by operating activities | 14,000.00 | A | |||
Cash Flow from Investing Activities | |||||
Land purchased | (38,000.00) | ||||
Net Cash used in Investing Activities | (38,000.00) | B | |||
Cash Flow from Financing Activities | |||||
Bank loan taken | 20,000.00 | ||||
Common Stock Issued | 75,000.00 | ||||
Dividend Paid | (2,000.00) | ||||
Net Cash provided by Financing Activities | 93,000.00 | C | |||
Net Increase/(Decrease) in cash | 69,000.00 | D=A+B+C | |||
Beginning Cash Balance | - | E | |||
Ending Cash Balance | 69,000.00 | F=D+E |
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