hw 3 - 5500 >notes Payable 30000 Stockholders'

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Income Statements----------------------------------------------------------- Consulting Revenue 80000 Interest Revenue 4000 Interest Expense -5000 Salary Expense -31000 Utility Expense Advertising Expense Net Income 48000 Statements of changes in stockholders' Equity Beginning Common Stock 15000 Plus: Common Stock Issued 20000 Ending Common Stock 35000 Beginning Retained Earnings 7200 Plus: Net Income 48000 Less: Dividends -10000 Ending Retained Earnings 45200 Total Stockholers' Equity 80200 Balance Sheets Assets----------------------------------------------------------------------------- >Cash 52000 >Accounts Receivable 22000 >Interest Receivable 0 >Land 48700 Total Assets 122700 Liabilities------------------------------------------------------------------------- >Salaries Payable
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Unformatted text preview: 5500 >notes Payable 30000 Stockholders' Equity------------------------------------------------------------>Common Stock 35000 >Retained Earnings 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 12000 Plus: Beginning Cash Balance Ending Cash Balance 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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hw 3 - 5500 >notes Payable 30000 Stockholders'

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