hw 3 - Income

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Unformatted text preview: Income Statements----------------------------------------------------------Consulting Revenue Interest Revenue Interest Expense Salary Expense Utility Expense Advertising Expense Net Income Statements of changes in stockholders' Equity Beginning Common Stock Plus: Common Stock Issued Ending Common Stock Beginning Retained Earnings Plus: Net Income Less: Dividends Ending Retained Earnings Total Stockholers' Equity Balance Sheets Assets---------------------------------------------------------------------------->Cash >Accounts Receivable >Interest Receivable >Land Total Assets Liabilities------------------------------------------------------------------------>Salaries Payable >notes Payable Stockholders' Equity----------------------------------------------------------->Common Stock >Retained Earnings 80000 4000 -5000 -31000 48000 15000 20000 35000 7200 48000 -10000 45200 80200 52000 22000 0 48700 122700 5500 30000 35000 45200 Total Stockholders; Equity 80200 Total Liabilities and Stockholders' Equity 115700 Statements of Cash Flows Cash flows from Operating Activities--------------------------------------Net Cash Flow from Operating Activities 22000 Cash Flows from Investing Activities--------------------------------------->Cash Flow from Inv Activities -30000 Cash Flows from Financing Activities---------------------------------------Net Cash Flow from Financing Activites 20000 Net change in Cash Plus: Beginning Cash Balance Ending Cash Balance 12000 0 12000 ...
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This homework help was uploaded on 04/16/2008 for the course ACCT 221 taught by Professor Catherinewest during the Fall '06 term at UMass (Amherst).

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