Explore BrainMass

Explore BrainMass

    Preparing a Financial Statement

    Not what you're looking for? Search our solutions OR ask your own Custom question.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Enterprise A started the 2002 accounting period w/ $30K of assets (all cash), $18K of liabilities, and $4K of common stock. During the year, Enterprise A earned cash revenues of $48K, paid cash expenses of $32K, and paid a cash dividend to stockholders of $2K. Enterprise A also acquired $10K of additional cash from the sale of common stock and paid $6K cash to reduce the liability owed to a bank.

    a. how do I prepare an income statement, statement of changes in stockholders' equity, and a cash flow for the accounting period.

    © BrainMass Inc. brainmass.com November 30, 2021, 2:13 am ad1c9bdddf
    https://brainmass.com/business/financial-statements/preparing-a-financial-statement-160587

    Solution Preview

    Preparing a Financial Statement
    Enterprise A started the 2002 accounting period w/ $30K of assets (all cash), $18K of liabilities, and $4K of common stock.
    During the year, Enterprise A earned cash revenues of $48K, paid cash expenses of $32K, and paid a cash dividend to stockholders of $2K. Enterprise A also acquired $10K of additional cash from the sale of common ...

    Solution Summary

    This solution is comprised of a detailed explanation to prepare a financial statement for Enterprise A.

    $2.49

    ADVERTISEMENT