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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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