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  • 5110u1-Financial TR

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    191 vues4 pages
    The balance sheet shows the company had $350,000 in total assets as of December 31, 20XX, including $275,000 in current assets like cash and accounts receivable. Total liabilities were $161,500, including $123,500 in current liabilities. Stockholders' equity was $188,500. The income statement reveals revenues of $650,000 and net income of $65,000 for the year. According to the statement of cash flows, the company had $185,000 net cash from operations and $10,000 from financing, increasing cash by $170,000.

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    5110u1-financial tr

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    The balance sheet shows the company had $350,000 in total assets as of December 31, 20XX, including $275,000 in current assets like cash and accounts receivable. Total liabilities were $161,500, including $123,500 in current liabilities. Stockholders' equity was $188,500. The income statement reveals revenues of $650,000 and net income of $65,000 for the year. According to the statement of cash flows, the company had $185,000 net cash from operations and $10,000 from financing, increasing cash by $170,000.

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    © All Rights Reserved
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    191 vues4 pages

    5110u1-Financial TR

    Transféré par

    api-372394631
    The balance sheet shows the company had $350,000 in total assets as of December 31, 20XX, including $275,000 in current assets like cash and accounts receivable. Total liabilities were $161,500, including $123,500 in current liabilities. Stockholders' equity was $188,500. The income statement reveals revenues of $650,000 and net income of $65,000 for the year. According to the statement of cash flows, the company had $185,000 net cash from operations and $10,000 from financing, increasing cash by $170,000.

    Droits d'auteur :

    © All Rights Reserved
    Téléchargez comme XLSX, PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    sur 4

    Diamond Gem Cleaning and Maintenance Service

    Balance Sheet
    Year Ended December 31, 20XX
    Polly's Pet Products

    Balance Sheet as of December 31, 2018

    ASSETS

    CURRENT ASSETS

    Cash 200,000
    Accounts receivable 50,000
    Other assets 25,000

    Total current assets 275,000

    LONG TERM ASSETS

    Fixed Assets 75,000

    TOTAL ASSETS 350,000

    LIABILITIES AND STOCKHOLDERS' EQUITY

    CURRENT LIABILITIES

    Accounts payable 75,000


    Accrued expenses 30,000
    Income tax payable 5,000
    Current portion of notes payable 12,000
    Deferred income taxes 1,500

    Total current liabilities 123,500

    LONG TERM LIABILITIES


    Notes payable (long term) 38,000

    TOTAL LIABILITIES 161,500

    STOCKHOLDERS' EQUITY

    Common stock 5,000


    Additional paid-in capital 15,000

    Retained Earnings 168,500

    Total stockholders' equity 188,500


    Diamond Gem Cleaning and Maintenance Service
    Balance Sheet
    Year Ended December 31, 20XX

    TOTAL LIABILITIES AND STOCKHOLDERS EQUITY 350,000


    Diamond Gem Cleaning and Maintenance Service
    Statement of Income and Retained Earnings
    Year Ended December 31, 20XX
    Polly's Pet Products

    Income Statement as of December 31, 2018

    Revenues 650,000

    Operating Costs 445,000

    Gross Profit 205,000

    General and Administrative Expenses 75,000

    Operating Income 130,000

    Other Expense 60,000

    Income Before Provision for Income Taxes 70,000

    Provision for Income Taxes 5,000

    Net Income 65,000

    Retained Earnings, Beginning Balance 103,500

    Net Income 65,000

    Retained Earnings, Ending Balance 168,500


    Polly's Pet Products

    Statement of Cash Flows as of December 31, 2018

    Cash Flows from Operating Activities


    Cash received from customers 600,000
    Cash paid out to suppliers and employees (400,000)
    Interest paid (5,000)
    Taxes paid (10,000)
    Net cash provided by operating activities 185,000

    Cash Flows from Investing Activities


    Purchase of fixed assets (25,000)
    Net cash used in investing activities (25,000)

    Cash Flows from Financing Activities


    New loans 50,000
    Repayments on loans (45,000)
    Issuance of common shares of stock 5,000
    Net cash provided by financing activities 10,000

    Net change in Cash 170,000

    Cash balance, beginning of year 30,000

    Cash balance, end of year 200,000

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