Prat corp. started the 2018 accounting period with $30,000 of assets (all cash), $12,000 of liabilities, and $13,000 of common stock. during the year, the retained earnings account increased by $7,550. the bookkeeper reported that prat paid cash expenses of $26,000 and paid a $2,000 cash dividend to the stockholders, but she could not find a record of the amount of cash that prat received for performing services. prat also paid $3,000 cash to reduce the liability owed to the bank, and the business acquired $4,000 of additional cash from the issue of common stock.(hint: determine the amount of beginning retained earnings before considering the effects of the current period events. it also might to record all events under an accounting equation before preparing the statements.)a-1. prepare an income statement for the 2018 accounting period. a-2. prepare a statement of changes in stockholders’ equity for the 2018 accounting period. a-3. prepare a period-end balance sheet for the 2018 accounting period. a-4. prepare a statement of cash flows for the 2018 accounting period.
Answers: 2
Other questions on the subject: Business
Business, 21.06.2019 17:40, hallmansean04
Sodas in a can are supposed to contain an average of 12 ounces. this particular brand has a standard deviation of 0.1 ounces, with an average of 12.1 ounces. if the can's contents follow a normal distribution, what is the probability that the mean contents of a six pack are less than 12 ounces?
Answers: 2
Business, 21.06.2019 22:30, juanitarodriguez
True or false: on january 1, year one, the epstein corporation buys a plot of land with a four-story office building. the company believes the building is worth $1.9 million and has an estimated life of twenty years (with no anticipated residual value). the straight-line method is used. the land has an assessed value of $100,000. because the seller was interested in a quick sale, epstein was able to buy this land and building for $1.7 million. depreciation expense to be recognized in year one is $80,750.
Answers: 3
Business, 22.06.2019 11:00, jilliand2030
Why are the four primary service outputs of spatial convenience, lot size, waiting time, and product variety important to logistics management? provide examples of competing firms that differ in the level of each service output provided to customers?
Answers: 1
Business, 22.06.2019 19:10, jonmorton159
The stock of grommet corporation, a u. s. company, is publicly traded, with no single shareholder owning more than 5 percent of its outstanding stock. grommet owns 95 percent of the outstanding stock of staple inc., also a u. s. company. staple owns 100 percent of the outstanding stock of clip corporation, a canadian company. grommet and clip each own 50 percent of the outstanding stock of fastener inc., a u. s. company. grommet and staple each own 50 percent of the outstanding stock of binder corporation, a u. s. company. which of these corporations form an affiliated group eligible to file a consolidated tax return?
Answers: 3
You know the right answer?
Prat corp. started the 2018 accounting period with $30,000 of assets (all cash), $12,000 of liabilit...
Questions in other subjects:
English, 04.05.2021 20:20
