1-determine the missing amounts for each independent case, Ask an Expert

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1-Determine the missing amounts for each independent case below. Assume the amounts given are at the end of the company's first year of operation.

Company      total          total               total                total            Netincome   Stockholder's

Name            Revenue   Assets           Expensses     Liabilites     ( Loss )           Equity

Randolph      $600,000   $450,000     $350,000        $130.000

Newman      $105,000                                              $80,000      $10,000         $75,000

Wiseman                      $190,000         $70,000                          $30,000      $100,000

Martin         $180,000 $ 215,000        $115,000        $75,000

van tassel                                              $55,000          $75,000    $19,000        $79,000

2- Gail's Greenhouse, Inc., a small retail store which sells house plants, started business on January 1, 2010. At the end of January, 2010, the following information was available:

Requirements:

A. Using the above information, prepare the income statement for Gail's Greenhouse for the month ended January 31, 2010.

B. What is the amount of cash flows provided by operating activities to be presented on the statement of cash flows?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M9747045

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