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Balance Sheet and Cash Flow Statement

Prepare a balance sheet, with accounts in their proper sequence; from the following information, what is the Owner's Equity?

Land $100,000
Accounts Payable $25,000
Owners Equity ???
Accounts Receivable $50,000
Cash $10,000
Inventory $20,000


Prepare a cash flow statement, in the proper format, in th proper order, from the following information. Make sure you use + or - properly

Cash used for investing activities $30,000
Beginning cash $100,000
Cash from routine operations $5,000
Cash from financing activities $15,000

What is the Ending Cash?

Solution Preview

1. Balance Sheet - A Balance sheet lists assets and liabilities and owners equity and the total of assets and liabilities and owners equity is the same. We will make the balance sheet by classifying the accounts as assets, liabilities or owners equity
Land $100,000 - Assets
Accounts Payable $25,000 - Liability
Owners ...

Solution Summary

The solution explains how to prepare a Balance Sheet and a Cash Flow Statement