Review for AC202

Of revenues over expenses revenue less expenses net

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Unformatted text preview: ies and sub-total CSU CORPORATION Balance Sheet December 31, 2004 4th - list stockholders’ equity subtotal. Add to liabilities, Total CSU CORPORATION Balance Sheet December 31, 2004 Assets Cash Accounts receivable Supplies 1,800 Equipment Total assets $ 1,400 4,000 16,000 $23,200 Liabilities and Stockholders’ Equity Liabilities Notes payable Accounts payable Total liabilities Stockholders’ equity Common stock Retained earnings Total Stockholders’ equity Total liabilities and stockholders’ equity $ 5,000 2,000 7,000 10,000 6,200 16,200 $23,200 If total assets and total liabilities and stockholders’ equity equal… double underline. CSU CORPORATION Balance Sheet December 31, 2004 Assets Cash Accounts receivable Supplies 1,800 Equipment Total assets Liabilities and Stockholders’ Equity Liabilities Notes payable Accounts payable Total liabilities Stockholders’ equity Common stock 10,000 Retained earnings 15,954 Total Stockholders’ equity Total liabilities and stockholders’ equity $ 3,400 4,000 23,754 $32,954 $ 5,000 2,000 7,000 25,954 $32,954 Balance Sheet Balance Sheet Example on page 15 of your text From From Retained Earnings Statement Statement Statement of Cash Flows Where did the cash come from? How was cash used during the period? What was the change in the cash balance during the period? A company cannot survive without cash! ABC Company Statement of Cash Flows For the Month Ended Dec 31, 2002 Cash flows from operating activities: Cash received from revenue transactions $ 750 Cash paid for expenses (50) Net cash provided by operating activities $ 700 Cash flows from investing activities: Purchase of equipment $ (2,500) Purchase of truck (2,000) Collection for sale of office desk 75 Payment on new computer (150) Net cash used by investing activities (4,575) Cash flows from financing activities: Sale of common stock 8,000 I ncrease in cash for month $ 4,125 Cash balance, May 1, 2003 Cash balance, May 31, 2003 $ 4,125 ABC Company Statement of Cash Flows For the Month Ended Dec 31, 2002 Cash flows from operating activities: Cash received from revenue transactions $ 750 Cash paid for expenses (50) Net cash provided by operating activities $ 700 Cash flows from investing activities: Purchase of equipment $ (2,500) Purchase of truck (2,000) Collection for sale of office desk 75 Payment on new computer (150) Net cash used by investing activities (4,575) Cash flows from financing activities: Sale of common stock 8,000 I ncrease in cash for month $ 4,125 Cash balance, May 1, 2003 Cash balance, May 31, 2003 $ 4,125 ABC Company Statement of Cash Flows For the Month Ended Dec 31, 2002 Cash flows from operating activities: Cash received from revenue transactions $ 750 Cash paid for expenses (50) Net cash provided by operating activities $ 700 Cash flows from investing activities: Purchase of equipment $ (2,500) Purchase of truck (2,000) Collection for sale of office desk 75 Payment on new computer (150) Net cash used by investing activities (4,575) Cash flows from financing activities: Sale of common stock 8,000 I ncre...
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This note was uploaded on 09/29/2013 for the course AC 202 taught by Professor Nancyeverett during the Fall '09 term at Park.

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