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Exercise 8-4 Effect of accounting events on the financial statements of a corporation Astro Corporation was...
Astro Corporation was started with the issue of 4,800 shares of $10 par stock for cash...
Astro Corporation was started with the issue of 4,800 shares of $10 par stock for cash on January 1, 2018. The stock was issued at a market price of $19 per share. During 2018, the company earned $64,200 in cash revenues and paid $43,014 for cash expenses. Also, a $4,300 cash dividend was paid to the stockholders. Required: Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Astro Corporation's 2018 fiscal...
Astro Corporation was started with the issue of 4,900 shares of $10 par stock for cash...
Astro Corporation was started with the issue of 4,900 shares of $10 par stock for cash on January 1, 2018. The stock was issued at a market price of $20 per share. During 2018, the company earned $67,750 in cash revenues and paid $45.393 for cash expenses. Also. a $4,300 cash dividend was paid to the stockholders. Required Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Astro Corporation's 2018 fiscal...
Astro Corporation was started with the issue of 5,400 shares of $8 par stock for cash...
Astro Corporation was started with the issue of 5,400 shares of $8 par stock for cash on January 1, 2018. The stock was issued at a market price of $16 per share. During 2018, the company earned $69,300 in cash revenues and paid $46,431 for cash expenses. Also, a $4,600 cash dividend was paid to the stockholders. Required: Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Astro Corporation's 2018 fiscal...
Astro Corporation was started with the issue of 5,100 shares of $10 par stock for cash...
Astro Corporation was started with the issue of 5,100 shares of
$10 par stock for cash on January 1, 2018. The stock was issued at
a market price of $19 per share. During 2018, the company earned
$58,400 in cash revenues and paid $39,128 for cash expenses. Also,
a $3,900 cash dividend was paid to the stockholders. Required:
Prepare an income statement, statement of changes in stockholders’
equity, balance sheet, and statement of cash flows for Astro
Corporation’s 2018 fiscal...
Astro Corporation was started with the issue of 5.600 shares of $12 par stock for cash...
Astro Corporation was started with the issue of 5.600 shares of $12 par stock for cash on January 1, 2018. The stock was issued at a market price of $20 per share. During 2018, the company eamed $66,550 In cash revenues and paid $44.589 for cash expenses. Also, a $3.900 cash dividend was paid to the stockholders. Required: Prepare an Income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Astro Corporation's 2018 fiscal...
A Emphasis Heading 1 THeadin Paragraph Exercise 11-2B Efect of accounting events on the financial statements...
A Emphasis Heading 1 THeadin Paragraph Exercise 11-2B Efect of accounting events on the financial statements of a sole proprietorship A sole proprietorship was started on January 1, Year 1, when it received $30,000 cash from Maria Lopez, the owner. During Year 1, the company earned $50,000 in cash revenues and paid $22,300 in cash expenses. Lopez withdrew $10,000 cash from the business during Year 1. Required Prepare an income statement, capital statement (statement of changes in equity), balance sheet,...
Problem 1-35 Recording events in a horizontal statements model LO 1-3, 1-4, 1-5, 1-6, 1-7, 1-8,...
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...
Exercise 1-19A Preparing financial statements LO 1-7, 1-8, Dakota Company experienced the following events during 2018:...
Exercise 1-19A Preparing financial statements LO 1-7, 1-8, Dakota Company experienced the following events during 2018: 1. Acquired $25,000 cash from the issue of common stock. 2. Paid $20,000 cash to purchase land. 3. Borrowed $20,000 cash. 4. Provided services for $60,000 cash. 5. Paid $2,000 cash for utilities expense. 6. Paid $40,000 cash for other operating expenses. 7. Paid a $5,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2...
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....
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....
Astro Corporation was started with the issue of 4,800 shares of $10 par stock for cash on January 1, 2018. The stock was issued at a market price of $19 per share. During 2018, the company earned $64,200 in cash revenues and paid $43,014 for cash expenses. Also, a $4,300 cash dividend was paid to the stockholders. Required: Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Astro Corporation's 2018 fiscal...
Astro Corporation was started with the issue of 4,900 shares of $10 par stock for cash on January 1, 2018. The stock was issued at a market price of $20 per share. During 2018, the company earned $67,750 in cash revenues and paid $45.393 for cash expenses. Also. a $4,300 cash dividend was paid to the stockholders. Required Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Astro Corporation's 2018 fiscal...
Astro Corporation was started with the issue of 5,400 shares of $8 par stock for cash on January 1, 2018. The stock was issued at a market price of $16 per share. During 2018, the company earned $69,300 in cash revenues and paid $46,431 for cash expenses. Also, a $4,600 cash dividend was paid to the stockholders. Required: Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Astro Corporation's 2018 fiscal...
Astro Corporation was started with the issue of 5,100 shares of
$10 par stock for cash on January 1, 2018. The stock was issued at
a market price of $19 per share. During 2018, the company earned
$58,400 in cash revenues and paid $39,128 for cash expenses. Also,
a $3,900 cash dividend was paid to the stockholders. Required:
Prepare an income statement, statement of changes in stockholders’
equity, balance sheet, and statement of cash flows for Astro
Corporation’s 2018 fiscal...
Astro Corporation was started with the issue of 5.600 shares of $12 par stock for cash on January 1, 2018. The stock was issued at a market price of $20 per share. During 2018, the company eamed $66,550 In cash revenues and paid $44.589 for cash expenses. Also, a $3.900 cash dividend was paid to the stockholders. Required: Prepare an Income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Astro Corporation's 2018 fiscal...
A Emphasis Heading 1 THeadin Paragraph Exercise 11-2B Efect of accounting events on the financial statements of a sole proprietorship A sole proprietorship was started on January 1, Year 1, when it received $30,000 cash from Maria Lopez, the owner. During Year 1, the company earned $50,000 in cash revenues and paid $22,300 in cash expenses. Lopez withdrew $10,000 cash from the business during Year 1. Required Prepare an income statement, capital statement (statement of changes in equity), balance sheet,...
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...
Exercise 1-19A Preparing financial statements LO 1-7, 1-8, Dakota Company experienced the following events during 2018: 1. Acquired $25,000 cash from the issue of common stock. 2. Paid $20,000 cash to purchase land. 3. Borrowed $20,000 cash. 4. Provided services for $60,000 cash. 5. Paid $2,000 cash for utilities expense. 6. Paid $40,000 cash for other operating expenses. 7. Paid a $5,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2...
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....
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....
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