Question

1 - Using the following table and the equations underlying each of the four basic financial statements. 15 point $18.980 14,0

0 0
Add a comment Improve this question Transcribed image text
Answer #1

THE FOUR BASIC FINANCIAL STATEMENTS ARE

1-INCOME STATEMENT

2-BALANCE SHEET

3-STATEMENT OF SHAREHOLDER'S EQUITY

4-CASH FLOW STATEMENT

INCOME STATEMENT

DETAILS AMOUNT
REVENUE 10700
EXPENSE (9300)
NET INCOME 1400

BALANCE SHEET

DETAILS AMOUNT
ASSET
ASSET 18900
TOTAL ASSET 18900
LIABILITY AND ONWER'S EQUITY
LIABILITY 14050
EQUITY 4850
TOTAL LIABILITY AND EQUITY 18900

STATEMENT OF SHAREHOLDER'S EQUITY

DETAILS AMOUNT
BEG. BALANCE 3840
NET INCOME 1400
DIVIDEND (540)
CLOSING BALANCE 4700

CASH FLOW STATEMENT

DETAILS AMOUNT
CASH FLOW FROM OPERATING ACTIVITIES 1720
CASH FLOW FROM INVESTING ACTIVITIES (1060)
CASH FLOW FROM FINANCING ACTIVITIES (980)
BEG. CASH 1160
ENDING CASH 840
Add a comment
Know the answer?
Add Answer to:
1 - Using the following table and the equations underlying each of the four basic financial...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Using the following table and the equations underlying each of the four basic financial statements, show...

    Using the following table and the equations underlying each of the four basic financial statements, show (a) that the balance sheet is in balance, (b) that net income is properly calculated. (what caused changes in the retained earnings account, and (d) what caused changes in the cash account. (Cash outflows should be indicated with a minus sign.) Assets Liabilities Stockholders' Equity Revenue Expenses Net Income Dividends Beginning Retained Earnings Ending Retained Earnings Cash Flows from Operating Activities Cash Flows from...

  • Using the following table and the equations underlying each of the four basic financial statements, show...

    Using the following table and the equations underlying each of the four basic financial statements, show (a) that the balance sheet is in balance, (b) that net income is properly calculated, what caused changes in the retained earnings account, and (d) what caused changes in the cash account (Cash outflows should be indicated with a minus sign.) Assets Liabilities Stockholders' Equity Revenue Expenses Net Income Dividends Beginning Retained Earnings Ending Retained Earnings Cash Flows from Operating Activities Cash Flows from...

  • Using the following table and the equations underlying each of the four basic financial statements, show...

    Using the following table and the equations underlying each of the four basic financial statements, show (a) that the balance sheet is in balance, (b) that net income is properly calculated, what caused changes in the retained earnings account, and (d) what caused changes in the cash account. (Cash outflows should be indicated with a minus sign.) Assets Liabilities Stockholders' Equity Revenue Expenses Net Income Dividends Beginning Retained Earnings Ending Retained Earnings Cash Flows from Operating Activities Cash Flows from...

  • how do i prepare my cash flow Using the following table and the equations underlying each...

    how do i prepare my cash flow Using the following table and the equations underlying each of the four basic financial statements, show (a) that the balance sheet is in balance, (b) that net income is properly calculated, (c) what caused changes in the retained earnings account, and (d) what caused changes in the cash account. (Cash outflows should be indicated with a minus sign.) Assets $ 19,300 Liabilities 14,300 Stockholders’ Equity 5,000 Revenue 11,600 Expenses 9,750 Net Income 1,850...

  • Question: 1 E1-1 Reporting Amounts on the Four Basic Financial Statements Using the following table and...

    Question: 1 E1-1 Reporting Amounts on the Four Basic Financial Statements Using the following table and the equations underlying each of the four basic financial statements Assets Liabilities Shareholders' Equity Revenue Expenses Net income Dividends Beginning Retained Earnings Ending Retained Earnings Cash Flows from Operating Activities Cash Flows from Investing Activities Cash Flows from Financing Activities Beginning Cash Ending Cash $19,680 14,350 5,250 10,900 9,400 1,500 580 4,182 5, 120 1,840 (1.120) (1,060) 1,320 980 Required: a. Show that the...

  • Question 15 2 pts The following table shows the financial information of Wal-mart Stores. Period 1/31/2017...

    Question 15 2 pts The following table shows the financial information of Wal-mart Stores. Period 1/31/2017 1/31/2016 1/31/2015 Ending Net 13,643,000 14,694,000 16,363,000 Income Total Cash Flow From 31,530,000 27,389,000 28,564,000 Operating Activities Total Cash Flows -13,987,000 -10,675,000 -11,125,000 From Investing Activities Total Cash Flows -18,929,000 -16,122,000 -15,071,000 From Financing Activities Please calculate the total amount of accruals for 2017 and indicate if it is a positive (increases earnings) or negative (decreases earnings) one. 17887000 positive 17887000 negative 17543000 positive...

  • Help Se At the beginning of Year 2, the Redd Company had the following balances in...

    Help Se At the beginning of Year 2, the Redd Company had the following balances in its accounts: Cash Inventory Common stock Retained earnings $8,400 2,000 8,000 2.400 During Year 2, the company experienced the following events: 1. Purchased inventory that cost $5,600 on account from Ross Company under terms 2/10, 1/30. The merchandise was delivered FOB shipping point. Freight costs of $500 were paid in cash. 2. Returned $400 of the inventory that it had purchased because the inventory...

  • Dakota Company experienced the following events during Year 2 20 points 1. Acquired $15,000 cash from...

    Dakota Company experienced the following events during Year 2 20 points 1. Acquired $15,000 cash from the issue of common stock. 2. Paid $25,000 cash to purchase land. 3. Borrowed $5,000 cash. 4. Provided services for $50,000 cash. 5. Paid $2,000 cash for utilities expense. 6. Paid $37,500 cash for other operating expenses. 7. Paid a $2,500 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $29,000. Skipped eBook...

  • Problem 13-7 Prepare a Statement of Cash Flows [LO13-1, LO13-2] [The following information applies to the...

    Problem 13-7 Prepare a Statement of Cash Flows [LO13-1, LO13-2] [The following information applies to the questions displayed below.] Comparative financial statements for Weaver Company follow: Weaver Company Comparative Balance Sheet at December 31 This Year Last Year Assets Cash and cash equivalents $ 9 $ 15 Accounts receivable 340 240 Inventory 125 175 Prepaid expenses 10 6 Total current assets 484 436 Property, plant, and equipment 610 470 Less accumulated depreciation 93 85 Net property, plant, and equipment 517...

  • Dakota Company experienced the following events during Year 2. 1. Acquired $30,000 cash from the issue...

    Dakota Company experienced the following events during Year 2. 1. Acquired $30,000 cash from the issue of common stock. 2. Paid $10,000 cash to purchase land. 3. Borrowed $10,000 cash. 4. Provided services for $50,000 cash. 5. Paid $1.500 cash for utilities expense. 6. Paid $35,000 cash for other operating expenses. 7. Paid a $10,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $12,500. Required a. The January...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT