Parker and Moates | ||||||||||||||||
Statements Model | ||||||||||||||||
Year 1 | ||||||||||||||||
Balance Sheet | Income Statement | Statement of | ||||||||||||||
Assets | = | Liabilities | + | Stk. Equity | Rev. | - | Exp. | = | Net Inc. | Cash Flows | ||||||
Event | Cash | + | Accts. Rec. | = | Acct. Payable | + | Sal. Pay. | + | Retained Earnings | |||||||
1 | NA | + | 96000 | = | NA | + | NA | + | 96000 | 96000 | - | NA | = | 96000 | NA | |
2 | 65000 | + | NA | = | NA | + | NA | + | 65000 | 65000 | - | NA | = | 65000 | 65000 | OA |
3 | NA | + | NA | = | 45000 | + | NA | + | -45000 | NA | - | 45000 | = | -45000 | NA | |
4 | -26000 | + | NA | = | NA | + | NA | + | -26000 | NA | - | 26000 | = | -26000 | -26000 | OA |
5 | 70000 | + | -70000 | = | NA | + | NA | + | NA | NA | - | NA | = | NA | 70000 | OA |
6 | -38000 | + | NA | = | -38000 | + | NA | + | NA | NA | - | NA | = | NA | -38000 | OA |
7 | -10000 | + | NA | = | NA | + | NA | + | -10000 | NA | - | NA | = | NA | -10000 | FA |
8 | NA | + | NA | = | NA | + | 3000 | + | -3000 | NA | - | 3000 | = | -3000 | NA | |
Totals | 61000 | + | 26000 | = | 7000 | + | 3000 | + | 77000 | 161000 | - | 74000 | = | 87000 | 61000 | NC |
b. | $ 87,000 |
c. | $ 26,000 |
d. | $ 7,000 |
e. | $ 19,000 |
f. | $ 87,000 |
g. | $ 71,000 |
Per HOMEWORKLIB RULES the first question has been answered. Please post each of the remaining questions separately. Thank you.
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