238. Data for KennedyRealty are as follows:
Total assets at January 1.........
$100,000
Total liabilities at January 1.......
35,000
Total revenues for the year.......
79,000
Total expenses for the year.......
47,000
The owner, Finn Kennedy, received a dividend of $30,000 during the year. Using the above data, prepare KennedyRealty’s Statement of Retained Earnings for the year ended December 31.
239. Jet Styling, Inc.has the following beginning cash balance and cash transactions for the month of January. Using this information prepare a statement of cash flows.
a.
Beginning cash balance……………..
$ 3,200
b.
Cash investment by owner…………..
15,000
c.
Cash payment toward long-term loan
1,000
d.
Cash payment of rent………………..
1,800
e.
Purchased equipment for cash……..
7,500
f.
Purchased store supplies for cash…
1,500
g.
Cash collected from customers…….
7,750
h.
Cash dividend to stockholder…………..
2,000
i.
Cash payment of wages…………….
4,000
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