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Unformatted text preview: Student Name: Class: Problem 01-07A THE GRAHAM CO. Assets = Liabilities + Equity Accounts Office Accounts H. Graham H. Graham Date Cash Receivable Equipment Payable Capital Withdrawals Revenues Expenses May 1 1 3 5 8 12 15 20 22 25 26 27 28 30 30 31 THE GRAHAM CO. Income Statement For the Month Ended May 31 Revenues: Consulting services revenue Expenses: Rent expense Salaries expense Advertising expense Cleaning expense Telephone expense Utilities expense Total expenses Net income THE GRAHAM CO. Statement of Owner's Equity For the Month Ended May 31 H. Graham, Capital, May 1 Add: Investment by Owner Net income Less: Withdrawals by Owner H. Graham, Capital, May 31 THE GRAHAM CO. Student Name: Class: Problem 01-07A Balance Sheet May 31 Assets Cash Office equipment Total assets Liabilities Accounts payable Owner's Equity H. Graham, Capital Total liabilities and equity THE GRAHAM CO. Statement of Cash Flows For Month Ended May 31 Cash flows from operating activities: Cash received from customers Cash paid for rent Cash paid for cleaning Cash paid for telephone Cash paid for utilities Cash paid to employees Net cash provided by operating activities Cash flows from investing activities: Purchase of equipment Net cash used by investing activities Cash flows from financing activities:...
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This note was uploaded on 05/04/2010 for the course ACCT 211 taught by Professor ? during the Spring '10 term at Liberty.
- Spring '10