Use the preceding information to construct an income statement, statement of changes in…


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Use the preceding information to construct an income statement, statement of changes in… 1 answer below » Identifying and arranging elements on financial statements The following information was drawn from the records of Ruth & Associates at December 31, 2010. View complete question » Supplies $ 3,000 Unearned revenue $ 8,000 Consulting revenue 100,000 Notes payable 32,000 Land 63,000 Salaries payable 7,000 Dividends 10,000 Salary expense 47,000 Cash flow from fin. activities 20,000 Common stock issued 15,000 Interest revenue 4,000 Beginning common stock 25,000 Ending retained earnings Identifying and arranging elements on financial statements The following information was drawn from the records of Ruth & Associates at December 31, 2010. Supplies $ 3,000 Unearned revenue $ 8,000 Consulting revenue 100,000 Notes payable 32,000 Land 63,000 Salaries payable 7,000 Dividends 10,000 Salary expense 47,000 Cash flow from fin. activities 20,000 Common stock issued 15,000 Interest revenue 4,000 Beginning common stock 25,000 Ending retained earnings 60,000 Accounts receivable 26,000 Cash 52,000 Cash flow from inv. activities (30,000) Interest payable 2,000 Cash flow from oper. activities 32,000 Interest expense 5,000 Prepaid rent 5,000 Required Use the preceding information to construct an income statement, statement of changes in stockholders’ equity, balance sheet, and statement of cash flows. (Show only totals for each activity on the statement of cash flows.) View less » Jul 24 2014 07:51 AM

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