Preparing financial statements
The following accounts and balances were drawn from the records of Miller Company:
Required
The following accounts and balances were drawn from the 2011 accounting records of Miller Company. Use the information to construct an income statement, statement of changes in stockholders’ equity, balance sheet, and statement of cash flows. (Show only totals for each activity on the statement of cash flows.)
Supplies | $ 300 | Beginning retained earnings | $14,500 |
Cash flow from investing act. | (7,800) | Cash flow from financing act. | 0 |
Prepaid insurance | 600 | Rent expense | 1,500 |
Service revenue | 45,450 | Dividends | 6,000 |
Other operating expenses | 35,000 | Cash | 19,000 |
Supplies expense | 750 | Accounts receivable | 7,000 |
Insurance expense | 1,800 | Prepaid rent | 6,000 |
Beginning common stock | 24,000 | Unearned revenue | 8,000 |
Cash flow from operating act | 10,450 | Land | 36,000 |
Common stock issued | 6,000 | Accounts payable | 16,000 |
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