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:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text: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
11,234
1,070
Cash
7,698
(669)
(1,688)
Accounts receivable
Inventories
9,546
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
2,498
1,349
991
Notes Payable (long-term)
1,349
Total Liabilities
12,720
12,526
Shareholders' Equity:
Common shares
64,365 68,338
33,357 32,595
(3,973)
Retained earnings
Total Liabilities and Equity
762
110,442 113,459
The income statement of Lakeside Resort for 2020:
DELL
F4
F5
F6
F7
F8
F9

Transcribed Image Text:Maps
mail O YouTube
The income statement of Lakeside Resort for 2020:
2020
Revenue:
31,287
Sales revenue
Costs and Expenses:
20,786
3,985
5,754
30,525
Cost of goods sold
Depreciation expense
Other operating expenses
Total Expenses
Net Income
762
Prepare the statement of cash flow for Lakeside Resort on the operating activities. Omit headin
the
Net Income
762
Adjustments:
DELL
F3
F4
F5
F6
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