4_Financials_Illustrated

4_Financials_Illustrated - Statement of Cash Flows For the...

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Shannon Realty, Inc. Income Statement For the Month Ended December 31, 19xx Revenues Commissions Earned $3,500 Expenses Equipment Rental Expense $1,000 Wages Expense 400 Utility Expense 300 Total Expenses 1,700 Net Income $1,800 Shannon Realty, Inc. Statement of Retained Earnings For the Month Ended December 31, 19xx Retained Earnings, December 1, 19xx $ 0 Net Income for the Month 1,800 Subtotal $1,800 Less: Dividends (600) Retained Earnings, December 31, 19xx $1,200 Shannon Realty, Inc. Balance Sheet December 31, 19xx
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Assets Liabilities Cash $15,300 Accounts Payable $ 600 Accounts receivable 1,000 Stockholders’ Equity Supplies 500 Common Stock $50,000 Land 10,000 Retained Earnings 1,200 Building 25,000 Total Stkhldr’s Equity 51,200 Total Assets $51,800 Total Liab. and Stkholders’ Eq. $51,800 Shannon Realty, Inc.
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Unformatted text preview: Statement of Cash Flows For the Month Ended December 31, 19xx Cash Flow from Operating Activities Net Income $ 1,800 Noncash Expenses and Revenues Included in Income Increase in Accounts Receivable $ (1,000) Increase in Supplies (500) Increase in Accounts Payable 600 (900) Net Cash Flows from Operating Activities $ 900 Cash Flow from Investing Activities Purchase of Land $(10,000) Purchase of Building (25,000) Net Cash Flows from Investing Activites (35,000) Cash Flow from Financing Activities Investment by Stockholders $ 50,000 Dividends (600) Net Cash Flows from Investing Activities 49,400 Net Increase (Decrease in Cash) $15,300 Cash at Beginning of Month Cash at End of Month $15,300...
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4_Financials_Illustrated - Statement of Cash Flows For the...

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