172.Name and describe the four primary financial statements for a corporation.
173.A summary of cash flows for Evelyn's Event Planning for the year ended December 31 is shown below.
Cash receipts:
Cash received from customers$57,360
Cash received from bank loan15,000
Cash payments:
Cash paid for operating expenses$12,120
Cash paid for equipment18,070
Cash paid for party supplies9,480
Dividends12,000
The cash balance as of January 1$15,580
Prepare a statement of cash flows for Evelyn's Event Planning for the year ended December 31.
174.The assets and liabilities of Rocky's Day Spa at December 31 and expenses for the year are listed below. Thestockholders' equity was $68,000 ($48,000 in Common Stock and $20,000 in Retained Earnings) at January 1. Theshareholders invested in an additional $10,000 of common stock during the year. Net income for the year is$45,625.
Accounts payable$ 4,375Spa operating expense$23,760
Accounts receivable8,490Office expense2,470
Cash13,980Spa supplies9,230
Fees earned???Wages expense26,580
Spa furniture & equipment56,000Dividends38,170
Computers2,130
Prepare an income statement for Rocky's Day Spa for the current year ended December 31.
175.The assets and liabilities of Rocky's Day Spa at December 31 and expenses for the year are listed below. Thestockholders' equity was $68,000 ($48,000 in Common Stock and $20,000 in Retained Earnings) at January 1. Theshareholders invested in an additional $10,000 of common stock during the year. Net income for the year is$45,625.
Accounts payable$ 4,375Spa operating expense$23,760
Accounts receivable8,490Office expense2,470
Cash???Spa supplies9,230
Fees earned98,435Wages expense26,580
Spa furniture & equipment56,000Dividends38,170
Computers2,130
Prepare a balance sheet for Rocky's Day Spa for the year ended December 31.