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    1 $20,000 2 56000 3 - 2500 4 48000 - 48000 5 10000 6 - 2000 7 8 9 10 11 12 13 14 15 Totals $63,500 $8,000 $0 $0 $0 $0 $0 $10,000 $0

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    Nick Altman
    The balance sheet shows the company has $63,500 in total assets, including $20,000 in cash and $8,000 in accounts receivable. Total liabilities are $10,000 in accounts payable. The income statement indicates the company earned $56,000 in revenue and $12,500 in expenses, resulting in net income of $43,500. The statement of cash flows shows a $20,000 increase in cash from financing activities and $6,500 decrease from operating and investing activities.

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    1 $20,000 2 56000 3 - 2500 4 48000 - 48000 5 10000 6 - 2000 7 8 9 10 11 12 13 14 15 Totals $63,500 $8,000 $0 $0 $0 $0 $0 $10,000 $0

    Uploaded by

    Nick Altman
    22 views2 pages
    The balance sheet shows the company has $63,500 in total assets, including $20,000 in cash and $8,000 in accounts receivable. Total liabilities are $10,000 in accounts payable. The income statement indicates the company earned $56,000 in revenue and $12,500 in expenses, resulting in net income of $43,500. The statement of cash flows shows a $20,000 increase in cash from financing activities and $6,500 decrease from operating and investing activities.

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    The balance sheet shows the company has $63,500 in total assets, including $20,000 in cash and $8,000 in accounts receivable. Total liabilities are $10,000 in accounts payable. The income statement indicates the company earned $56,000 in revenue and $12,500 in expenses, resulting in net income of $43,500. The statement of cash flows shows a $20,000 increase in cash from financing activities and $6,500 decrease from operating and investing activities.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    22 views2 pages

    1 $20,000 2 56000 3 - 2500 4 48000 - 48000 5 10000 6 - 2000 7 8 9 10 11 12 13 14 15 Totals $63,500 $8,000 $0 $0 $0 $0 $0 $10,000 $0

    Uploaded by

    Nick Altman
    The balance sheet shows the company has $63,500 in total assets, including $20,000 in cash and $8,000 in accounts receivable. Total liabilities are $10,000 in accounts payable. The income statement indicates the company earned $56,000 in revenue and $12,500 in expenses, resulting in net income of $43,500. The statement of cash flows shows a $20,000 increase in cash from financing activities and $6,500 decrease from operating and investing activities.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 2

    Balance Sheet

    Assets Liabilities
    Event Accounts Prepaid Interest Accounts Salaries Unearned
    Number Cash Rec. Rent Supplies Rec. Land = Payable Payable Revenue

    1 $20,000
    2 56000
    3 -2500
    4 48000 -48000
    5 10000
    6 -2000
    7
    8
    9
    10
    11
    12
    13
    14
    15

    Totals $63,500 $8,000 $0 $0 $0 $0 $0 $10,000 $0

    Total Total
    Assets Claims
    Income Statement Statement of
    Equity Cash Flows
    Common Retained Net
    Stock Earnings Revenue - Expense = Income Amount Activity

    $20,000 $20,000 FA
    56000 56000 56000 $0
    -2500 2500 -2500 -$2,500 OA
    0 0 $48,000 OA
    -10000 10000 -10000 $0 OA
    -2000 0 -$2,000 FA
    0 0 $0
    0 0 $0
    0 0 $0
    0 0 $0
    0 0 $0
    0 0 $0
    0 0 $0
    0 0 $0
    0 0 $0

    $20,000 $41,500 $56,000 $12,500 $43,500

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