68 mryan co statement of owners equity for the year

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Unformatted text preview: ber 31, 20x8 Issuance of Stock Net Earnings for the Year Dividends Declared Ending Balance, December 31, 20x9 Common Stock $90,000 40,000 $130,000 20,000 188,107 Long-Term Debt Note Payable- Bank Total Liabilities Owners' Equity Common Stock Retained Earnings Total Owners' Equity Operating Expenses Salary Expense Rent Expense Depreciation Expense Bad Debt Expense Total Operating Expenses Operating Income Other Revenues & <Expenses> Interest Expense Total Other Revenues & <Expenses> Income Before Taxes Tax Expense Net Income $150,000 15,107 3,000 Retained Earnings $115,800 70,497 (13,000) $173,297 Totals $205,800 40,000 70,497 (13,000) $303,297 40,000 228,107 $130,000 173,297 303,297 $531,404 MRyan Co. Statement of Cash Flows For the Year Ended December 31, 20x9 Operating Activities Net Income Adjustments to Net Income: Add: Depreciation Expense Changes in: Increase in Net Accounts Receivable Increase in Inventory Increase in Prepaid Rent Increase in Accounts Payable Increase in Salary Payable Decrease in Rent Payable Increase in Taxes Payable Cash Provided by Operating Activities Investing Activities Purchase of Equipment Cash Used for Investing Activities Financing Activities Payment on Long-Term Debt Payment of Dividends Cash Used for Financing Activities Increase in Cash Beginning Cash B...
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This document was uploaded on 03/23/2014.

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