Rosano-UNIT2-txtbook exercise

Rosano-UNIT2-txtbook exercise - January 31,2008 Mariner...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
PR 1-4A Fees earned Expenses: Wages expense Rent expense Supplies expense Auto expense Miscellaneous expense Total expenses Net income Barry Kimm, capital, January 1, 2008 Investment on January 1, 2008 Net income for January Less withdrawals Increase in owner's equity Barry Kimm, capital, January 31,2008 Assets Cash $29,140 Supplies $725 Accounts receivable $10,400 Total assets $40,265 Cash flows from operating activities: Cash received from customers Deduct cash payments for expenses and payments to creditors Net cash flow from operating activites Cash flows from investing activities: Cash payments for purchase of land Cash flows from financing activities: Mariner Financial Services Income Statement For the Month Ended Ja Mariner Financial Serfvices Owner's Equity Month Ended January 31,2008 Mariner Financial Serfvices Sheet
Background image of page 1

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

View Full DocumentRight Arrow Icon
Background image of page 2
Background image of page 3

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

View Full DocumentRight Arrow Icon
Background image of page 4
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: January 31,2008 Mariner Financial Serfvices Flows January 31,2008 Cash received as owner's investment Deduct cash withdrawal by owner Net cash flow from financing activities Net cash flow and January 31,2008, cash balance PR 1-6A a) $120,000 b) $12,000 c) $0 d) $49,600 e) $209,600 f) $185,600 g) $185,600 h) $192,000 I) $185,600 j) $192,000 k) $120,000 l) $41,800 m) ($160,000) n) $160,000 o) $24,000 p) $136,000 q) $17,800 $52,400 $15,000 $7,500 $455 $4,500 $1,280 $28,735 $23,665 $0 $25,000 $23,665 $48,665 $9,000 $39,665 $39,665 Liabilities Accounts payable $600 Owner's Equity Barry Kimm, capital $39,665 $40,265 $52,400 January 31,2008 Statement of For the Balance Total liabilities and owner's equity Statement of Cash For the Month Ended $2,500 $9,000 $29,140...
View Full Document

Page1 / 4

Rosano-UNIT2-txtbook exercise - January 31,2008 Mariner...

This preview shows document pages 1 - 4. Sign up to view the full document.

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