Problem 1-3A
Score:
Key Code:
Instructions
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
An asterisk (*) will appear to the right of an incorrect entry.
1.
Expenses:
Total expenses
Net income
2.
Retained earnings, July 1, 2014
Retained earnings, July 31, 2014
3.
Assets
Cash
Accounts receivable
Supplies
Total stockholders’ equity
Total assets Total liabilities and stockholders’ equity
4.
Cash flows from operating activities:
Cash received from customers
Cash payments for expenses and
payments to creditors
Net cash flow used for operating activities
Cash flows from investing activities
Cash flows from financing activities:
Cash received from issuing capital stock
Cash dividends
Net cash flow used from financing activities
Net increase in cash and July 31, 2014, cash balance
[Key code here]
RELIANCE FINANCIAL SERVICES
Stockholders‘ Equity
RELIANCE FINANCIAL SERVICES
Balance Sheet
Name:
Section:
0%
RELIANCE FINANCIAL SERVICES
Statement of Cash Flows
Enter the appropriate amounts/formulas in the answer cells, or select from the drop-down list.
Liabilities
Income Statement
RELIANCE FINANCIAL SERVICES
Retained Earnings Statement
Problem 1-3A
Instructions
RELIANCE FINANCIAL SERVICES
For the Month Ended July 31, 2014
Capital stock
Retained earnings
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
1.
Fees earned 144,500$
Expenses:
3.
Assets
Cash 32,600$ 3,400$
RELIANCE FINANCIAL SERVICES
Income Statement
Name:
Section:
Enter the appropriate amounts/formulas in the answer cells, or select from the drop-down list.
An asterisk (*) will appear to the right of an incorrect entry.
Solution
Accounts payable
Liabilities
RELIANCE FINANCIAL SERVICES
Balance Sheet
July 31, 2014
ON
For the Month Ended July 31, 2014
RELIANCE FINANCIAL SERVICES
For the Month Ended July 31, 2014