Maria Hernandez solution

Maria Hernandez solution - Balance Sheet 1-Jul-04 ASSETS...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Balance Sheet 1-Jul-04 Maria Hernadez Assoc ASSETS LIABILITIES Current Assets Current Liabilities Cash $12,000 Accounts payable $0 Accounts receivable 0 Interest payable 0 Remaining Office Supplies 5,000 Total Current Liabilities Prepaid rent 6,000 Total Current Assets $23,000 Long-term Liabilities Private loan $20,000 Fixed Assets Total Long-Term Liabilities $20,000 Computers and Software 27,000 (less accumulated depreciation) 0 Owner's Equity Total Net Fixed Assets $27,000 Maria's Equity $30,000 Retained earnings 0 Total Owner's Equity $30,000 TOTAL ASSETS $50,000 $50,000 Statement of Cash Flows Prior to 7/1/04 Maria Hernandez Assoc. Cash flows from operating activities Net cash provided (used) by operating activities $0  Cash flows from investing activities Cash paid for equipment and software (27,000) Cash paid for rent (6,000) Cash paid for office supplies (5,000) Net cash provided (used) by investing activities
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

Maria Hernandez solution - Balance Sheet 1-Jul-04 ASSETS...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online