162. Amos Moving Services’ account balances at March 31, 2011, the end of the current year, are listed below. The Retained Earnings balance was $180,000 at April 1, 2010, the beginning of the current year.
Accounts Payable$ 1,200Miscellaneous Expense$ 230
Accounts Receivable10,340Office Expense1,240
Cash32,320Supplies1,670
Fees Earned84,350Wages Expense23,550
Land47,000Dividends16,570
Building157,630Capital Stock25,000
Based on the data provided for Amos Moving Services, prepare a balance sheet as of March 31, 2011.
163. A summary of cash flows for Alex Design Services for the year ended December 31, 2012, is shown below.
Cash receipts:
Cash received from customers$83,990
Cash received from additional sale of capital stock25,000
Cash payments:
Cash paid for expenses$27,000
Cash paid for land47,000
Cash paid for supplies410
Dividends5,000
The cash balance as of January 1, 2012$40,600
Prepare a statement of cash flows for Alex Design Services for the year ended December 31, 2012.
164. What information does the income statement give to business users?
165. What are the three sections of the statement of cash flows?
166.
Match the following accounts to the financial statement where they can be found. (Hint: Some of the accounts can be found in more than one financial statement.)
A. Balance Sheet
B. Income Statement
C. Statement of Cash Flows
D. Retained Earnings Statement
1.Dividends
2.Revenues
3.Supplies
4.Land
5.Accounts Payable
6.Accounts Receivable
7.Operating Activities
8.Wages Expense
9.Net Income
10.Cash