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Balance sheet income statement assets liabilities

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Balance SheetIncome StatementAssets=Liabilities+EquityAcctsPrepaid(AccumAccruedUnearnedRetainedNetCashCashRec.RentEquipDep)=WagesRevenue+EarningsRev.-Exp.=Inc.Flow1)2)3)4)5)6)7)8)9)10)TOT
Next, prepare an Income Statement for the year ended December 31, 2016Income StatementFor the Year Ended 2016RevenuesExpenses()Net IncomeNow, prepare the Statement of Changesin Stockholders’ Equity,Balance Sheet and Statement of Cash Flows assuming 2016was the first year of operations for the company:Statement of Changes in Stockholders’ EquityFor the Year Ended 2016Beginning Common StockAdd: IssuancesEnding Common StockBeginning Retained EarningsAdd: Net IncomeLess: DividendsEnding Retained EarningsTOTAL Stockholders’ Equity
Balance Sheet- As of December 31, 2016Assets:CashAccounts ReceivablePrepaid RentEquipmentLess: Accumulated Dep.TOTAL AssetsLiabilities: Accrued WagesUnearned RevenuesTOTAL LiabilitiesEquity:Common StockRetained EarningsTotal Stockholders’ EquityTOTAL Liabilities and EquityStatement of Cash FlowsYear ended December 31, 2016Operating Activities:Cash receipts from customersCash payments for expensesNet Cash Flow- OperatingInvesting Activities:Net Cash Flow-Investing-Purchase EquipFinancing Activities:Net Cash Flow- FinancingNet Increase in CashBeginning Cash BalanceEnding Cash Balance
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Term
Spring
Professor
AaronApanah
Tags
Financial Accounting, Balance Sheet, Revenue, Generally Accepted Accounting Principles

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