5. Statement of Cash Flow:The 2020 comparative balance sheet of Lakeside Resort:Dec 31 Dec 3120202019 ChangesCurrent Assets51,265 50,1958,36711,2341,070Cash7,698(669)(1,688)Accounts receivableInventories9,546Prepaid expenses3,2102,844366Equipment, net38,72340,819Total Assets110,442 113,459Current LiabilitiesAccounts payable6,7597,692(933)Salaries payable1,123987136Other current liabilities3,4892,4981,349991Notes Payable (long-term)1,349Total Liabilities12,72012,526Shareholders' Equity:Common shares64,365 68,33833,357 32,595(3,973)Retained earningsTotal Liabilities and Equity762110,442 113,459The income statement of Lakeside Resort for 2020:DELLF4F5F6F7F8F9 Mapsmail O YouTubeThe income statement of Lakeside Resort for 2020:2020Revenue:31,287Sales revenueCosts and Expenses:20,7863,9855,75430,525Cost of goods soldDepreciation expenseOther operating expensesTotal ExpensesNet Income762Prepare the statement of cash flow for Lakeside Resort on the operating activities. Omit headintheNet Income762Adjustments:DELLF3F4F5F6

Cash Flow from Operating activities indicates the amount of cash that a corporation has procured…

5. Statement of Cash Flow: The 2020 comparative balance sheet of Lakeside Resort: Dec 31 Dec 31 2020 2019 Changes Current Assets 51,265 50,195 8,367 7,698 1,070 (669) (1,688) Cash Accounts receivable Inventories 9,546 11,234 Prepaid expenses 3,210 2,844 366 Equipment, net 38,723 40,819 Total Assets 110,442 113,459 Current Liabilities Accounts payable 6,759 7,692 (933) Salaries payable 1,123 987 136 Other current liabilities 3,489 1,349 2,498 991 Notes Payable (long-term) Total Liabilities Shareholders' Equity: 1,349 12,526 12,720 Common shares 64,365 68,338 33,357 32,595 110,442 113,459 (3,973) Retained earnings Total Liabilities and Equity 762 The income statement of Lakeside Resort for 2020:

5. Statement of Cash Flow: The 2020 comparative balance sheet of Lakeside Resort: Dec 31 Dec 31 2020 2019 Changes Current Assets 51,265 50,195 8,367 7,698 1,070 (669) (1,688) Cash Accounts receivable Inventories 9,546 11,234 Prepaid expenses 3,210 2,844 366 Equipment, net 38,723 40,819 Total Assets 110,442 113,459 Current Liabilities Accounts payable 6,759 7,692 (933) Salaries payable 1,123 987 136 Other current liabilities 3,489 1,349 2,498 991 Notes Payable (long-term) Total Liabilities Shareholders' Equity: 1,349 12,526 12,720 Common shares 64,365 68,338 33,357 32,595 110,442 113,459 (3,973) Retained earnings Total Liabilities and Equity 762 The income statement of Lakeside Resort for 2020:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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