Question

Financial Statements Supplies Expense Jose Loder established Bronco Consulting on August 1, 2011. The effect of each transaction and the balances after each transaction for August follow: Assets - Labilities + Stockholders' Equity Cash Accounts Accounts Common + Supplies - Recevable Fees + Salaries Dividends + Rent Auto Payable Stock Earned Expense Expense +75,000 Expense +75,000 b. +9,000 +9,000 Bal. 75,000 9,000 9,000 75,000 C. +92,000 +92,000 Bal. 167,000 9,000 9,000 75,000 92,000 d -27,000 -27,000 Bal. 140,000 9,000 9,000 75,000 92,000 -27,000 e -6,000 -6,000 Bal. 134,000 9,000 3,000 75,000 92,000 -27,000 f. +33,000 +33,000 Bal. 134,000 33,000 9,000 3,000 75,000 125,000 -27,000 9 -23,000 -15,500 Bal. 111,000 33,000 9,000 3,000 75,000 125,000 -27,000 -15,500 h. -58,000 -58,000 Bal. 53,000 33,000 9,000 3,000 75,000 125,000 -27,000 -58,000 -15,500 -6,100 Bal. 53,000 2,900 33,000 3,000 75,000 -27,000 125,000 -58,000 -5,000 J. -5,000 -6,100 -15,500 -6,100 < Previous Check My Work Save and Exit Submit Assignment for Gradin All work saved.

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Answer 1

Please hit LIKE button if this helped. Part 1 Income Statement $ 125,000 $ Fees Earned Less: Expenses Salaries Expense Rent Expense Auto Expense Supplies Expense Misc Expense Total Expense Net Income $ $ $ $ 58,000 27,000 15,500 6,100 7,500 $ -114,100 10,900 $ Part 2 Statement of stockholder's Equity - Beginning Add: New Investment Add: Net Income Less: Dividend Ending Balance Common Stock Retained Earning Total $ 75,000 $ $ 75,000 S $ $ 10,900 $ 10,900 $ -5,000 $ -5,000 $ 75,000 $ 5,900 $ 80,900 48,000 33,000 $ $ $ $ 2,900 83,900 Part 3 Balance Sheet: Assets: Cash Accounts Receivable Supplies Total Assets Liabilities: Accounts Payable Stockholder's Equity: Common Stock Retained Earning Total Stockholder's Equity Total Liabilities and stockholder's equity $ $ 3,000 3,000 $ 75,000 5,900 $ $ 80,900 83,900 $ $ $ 92,000 - 114,000 Part 4 Cash flow Cash flows from operating activities: Cash received for sale Cash payment for expenses Cash flows from operating activities Cash flows from investing activities Cash flows from Financing activities: Payment of Dividend -22,000 $ $ $ -5,000 Cash flows from Financing activities Net Changes in cash add: Beginning Balance Ending Cash Balance $ $ $ $ -5,000 -27,000 75,000 48,000