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Question

Problem 1-3A For use with 

Accounting, 25e

and 

Financial Accounting,

13e

by 

Warren/Reeve/Duchac

Name:

Section:

Score: 0%

Key Code: [Key code here]

Instructions                                                                                                             

Answers are entered in the cells with gray backgrounds.

Cells with non-gray backgrounds are protected and cannot be edited.

Enter the appropriate amounts/formulas in the answer cells, or select from the drop-down list.

An asterisk (*) will appear to the right of an incorrect entry.

1. RELIANCE FINANCIAL SERVICES

Income Statement

 

   

Expenses:

   

   

   

   

   

Total expenses  

Net income  

2. RELIANCE FINANCIAL SERVICES

Statement of Owner's Equity

 

Seth Feye, capital, July 1, 2014  

   

   

   

   

Seth Feye, capital, July 31, 2014  

3. RELIANCE FINANCIAL SERVICES

Balance Sheet

 

Assets Liabilities

       

    Owner's Equity

       

Total assets   Total liabilities and owner's equity  

4. RELIANCE FINANCIAL SERVICES

Statement of Cash Flows

 

Cash flows from operating activities:

Cash received from customers  

Cash payments for expenses and

  payments to creditors  

Net cash flows used for operating activities  

Cash flows from investing activities  

Cash flows from financing activities:

Cash received as owner's investment  

Deduct cash withdrawal by owner  

Net cash flows from financing activities  

Net increase in cash and July 31, 2014, cash balance  

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