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M2_A3_Solution(1) - Dawg and Burgers Company Income...

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Unformatted text preview: Dawg and Burgers Company Income Statement For the Month of March 2009 Revenue Total Revenue Expenses Total Expenses Net Income $1,700 $1,650 $1,700 1,650 $50 Dawg and Burgers Company Statement of Owner's Equity For the Month of March 2009 Retained earnings at beginning of the month Add: Net income Deduct dividends Retained earnings at end of the month $0 $50 (25) $25 Dawg and Burgers Company Balance Sheet For the Month of March 2009 Current assets: Cash Assets $12,025 Current liabilities: Note payable Total liabilities Liabilities $2,000 $2,000 10,000 25 $12,025 Total assets $12,025 Owner's Equity Paid in Capital Retained Earnings Total liabilities and owner's equity Dawg and Burgers Company Statement of Cash Flow For the Month of March 2009 Net cash flow from operating activities: Net income $50 Net cash flow from operating activities $50 Cash flows from financing activities: Proceeds from short­term debt $2,000 Investment by owner 10,000 10,000 Dividends paid (25) (25) Net cash provided by financing activities 11,975 11,975 Net increase (decrease) in cash and cash equivalents $12,025 Cash and cash equivalents at beginning of month 0 0 Cash and cash equivalents at end of month $12,025 $12,025 ...
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