Please give positive ratings so I can keep answering. It would help me a lot. Please comment if you have any query. Thanks! |
Maben | |||||||||||||||||||
Event No. | Balance Sheet | Income Statement | Statement of Cash flows | ||||||||||||||||
Assets | Liabilities | Stockholder's Equity | |||||||||||||||||
Cash | + | Land | = | Notes Pay | + | Common Stock | + | Retained Earnings | Revenue | - | Expense | = | Net Income | ||||||
1 | 30,000.00 | + | - | = | - | + | 30,000.00 | + | - | - | - | - | = | - | FA | ||||
2 | 40,000.00 | + | - | = | 40,000.00 | + | - | + | - | - | - | - | = | - | FA | ||||
3 | 48,000.00 | + | - | = | - | + | - | + | - | 48,000.00 | - | - | = | 48,000.00 | OA | ||||
4 | (25,000.00) | + | - | = | - | + | - | + | - | - | - | 25,000.00 | = | (25,000.00) | OA | ||||
5 | (1,000.00) | + | - | = | - | + | - | + | (1,000.00) | - | - | - | = | - | FA | ||||
6 | 20,000.00 | + | - | = | - | + | 20,000.00 | + | - | - | - | - | = | - | FA | ||||
7 | (10,000.00) | + | - | = | (10,000.00) | + | - | + | - | - | - | - | = | - | FA | ||||
8 | (53,000.00) | + | 53,000.00 | = | - | + | - | + | - | - | - | - | = | - | IA | ||||
6 | - | + | 22,000.00 | = | - | + | - | + | 22,000.00 | - | - | - | = | - | NA | NA means not applicable. Because land is revalued so it is not a Cashflow item. | |||
49,000.00 | + | 75,000.00 | = | 30,000.00 | + | 50,000.00 | + | 21,000.00 | 48,000.00 | - | 25,000.00 | = | 23,000.00 | - | NC |
Recording events in a horizontal statements model Maben Company was started on January 1, 2018, and...
Recording events in a horizontal statements model Maben Company was started on January 1, 2018, and experienced the following events during its first year of operation: 1. Acquired $30,000 cash from the issue of common stock. 2. Borrowed $40,000 cash from National Bank. 3. Earned cash revenues of $48,000 for performing services. 4. Paid cash expenses of $25,000 5. Paid a $1,000 cash dividend to the stockholders. 6. Acquired an additional $20,000 cash from the issue of common stock. 7....
Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: Acquired $31,000 cash from the issue of common stock. Borrowed $39,000 cash from National Bank. Earned cash revenues of $49,000 for performing services. Paid cash expenses of $45,500. Paid a $1,100 cash dividend to the stockholders. Acquired an additional $21,000 cash from the issue of common stock. Paid $10,000 cash to reduce the principal balance of the bank note. Paid...
! Required information [The following information applies to the questions displayed below.] Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. Acquired $30,000 cash from the issue of common stock. 2. Borrowed $40,000 cash from National Bank. 3. Earned cash revenues of $48,000 for performing services. 4. Paid cash expenses of $25,000. 5. Paid a $1,000 cash dividend to the stockholders. 6. Acquired an additional $20,000 cash from...
Recording events in a horizontal statements model The following events pertain to Super Cleaning Company: 1. Acquired $10,000 cash from the issue of common stock. 2. Provided $15,000 of services on account. 3. Provided services for $5,000 cash. 4. Received $2,800 cash in advance for services to be performed in the future. 5. Collected $12,200 cash from the account receivable created in Event 2. 6. Paid $1,900 for cash expenses. 7. Performed $1,400 of the services agreed to in Event...
Required information [The following information applies to the questions displayed below.] Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. Acquired $30,000 cash from the issue of common stock. 2. Borrowed $40,000 cash from National Bank. 3. Earned cash revenues of $48,000 for performing services. 4. Paid cash expenses of $25,000. 5. Paid a $1,000 cash dividend to the stockholders. 6. Acquired an additional $20,000 cash from the...
Problem 1-35 Recording events in a horizontal statements model LO 1-3, 1-4, 1-5, 1-6, 1-7, 1-8, 1-9, 1-10 The following information applies to the questions displayed below Maben Company was started on January 1, 2018, and experienced the following events during its first year of operation: 1. Acquired $38,000 cash from the issue of common stock. 2. Borrowed $32,000 cash from National Bank 3. Earned cash revenues of $56,000 for performing services 4. Paid cash expenses of $49,000. 5. Paid...
Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: Acquired $29,000 cash from the issue of common stock. Borrowed $41,000 cash from National Bank. Earned cash revenues of $57,000 for performing services. Paid cash expenses of $49,500. Paid a $1,900 cash dividend to the stockholders. Acquired an additional $29,000 cash from the issue of common stock. Paid $10,000 cash to reduce the principal balance of the bank note. Paid...
Required information Problem 1-35 Recording events in a horizontal statements model LO 1-3, 1-4, 1-5, 1-6, 1-7, 1-8, 1-9,1-10 The following information applies to the questions displayed below Maben Company was started on January 1, 2018, and experienced the following events during its first year of operation: 1 Acquired $38,000 cash from the issue of common stock 2 Borrowed $32,000 cash from National Bank 3. Earned cash revenues of $56,000 for performing services 4. Paid cash expenses of $49,000 5....
Required information [The following information applies to the questions displayed below.] Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. Acquired $30,000 cash from the issue of common stock. 2. Borrowed $40,000 cash from National Bank. 3. Earned cash revenues of $48,000 for performing services. 4. Paid cash expenses of $25,000. 5. Paid a $1,000 cash dividend to the stockholders. 6. Acquired an additional $20,000 cash from the...
Required informatiorn Problem 1-35 Recording events in a horizontal statements model LO 1-3, 1-4, 1-5, 1-6, 1-7, 1-8, 1-9, 1-10 The following information applies to the questions displayed below. Maben Company was started on January 1, 2018, and experienced the following events during its first year of operation: 1. Acquired $38,000 cash from the issue of common stock. 2. Borrowed $32,000 cash from National Bank 3. Earned cash revenues of $56,000 for performing services 4. Paid cash expenses of $49,000...