Below are the accounts and balances drawn from the records of Cowboy Ice Cream Company at the end of Year 4 (December 31 year end): $ 18,000 (5,400) 2,700 5,000 10,500 18,000 5,100 7,000 38,000 15,530 710 Supplies Cash flow from investing act. Beginning retained earnings (7,000) Cash flow from financing act. 2,600 81,000 44,000 220 1,100 1,100 7,400 5,300 Prepaid insurance Service revenue Rent expense Dividends Other operating expenses Supplies expense Cash Accounts receivable Prepaid rent Unearned revenue Insurance expense Beginning common stock Cash flow from operating act. Common stock issued Land Accounts payable Required Use the accounts and balances from Cowboy Ice Cream Company to construct their financial statements. You will need to create the following:

Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter11: Current Liabilities And Payroll
Section: Chapter Questions
Problem 5PA: Payroll accounts and year-end entries The following accounts, with the balances indicated, appear in...
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Hello can I have help with this balance sheet? Thank you!
Year 4 (December 31 year
Below are the accounts and balances drawn from the records of Cowboy Ice Cream Company at the end
end):
$ 18,000
(5,400)
2,700
5,000
10,500
18,000
5,100
7,000
710
(7,000) Cash flow from financing act.
2,600
81,000
Supplies
Cash flow from investing act.
Beginning retained earnings
Prepaid insurance
Service revenue
Rent expense
Dividends
Other operating expenses
Supplies expense
44,000
Cash
220
1,100
1,100
7,400
5,300
Accounts receivable
Prepaid rent
Unearned revenue
Insurance expense
Beginning common stock
Cash flow from operating act.
Land
38,000
Common stock issued
Accounts payable
15,530
Required
Use the accounts and balances from Cowboy Ice Cream Company to construct their financial statements. You will need to create the
following:
1. Income Statement
2. Statement of Changes in Stockholders' Equity
3. Balance Sheet
4. Statement of Cash Flows (show only totals for each activity on the statement of cash flows).
Transcribed Image Text:Year 4 (December 31 year Below are the accounts and balances drawn from the records of Cowboy Ice Cream Company at the end end): $ 18,000 (5,400) 2,700 5,000 10,500 18,000 5,100 7,000 710 (7,000) Cash flow from financing act. 2,600 81,000 Supplies Cash flow from investing act. Beginning retained earnings Prepaid insurance Service revenue Rent expense Dividends Other operating expenses Supplies expense 44,000 Cash 220 1,100 1,100 7,400 5,300 Accounts receivable Prepaid rent Unearned revenue Insurance expense Beginning common stock Cash flow from operating act. Land 38,000 Common stock issued Accounts payable 15,530 Required Use the accounts and balances from Cowboy Ice Cream Company to construct their financial statements. You will need to create the following: 1. Income Statement 2. Statement of Changes in Stockholders' Equity 3. Balance Sheet 4. Statement of Cash Flows (show only totals for each activity on the statement of cash flows).
Income
Stmt of
Balance Sheet
Statement of
Cash flows
Statement
Changes
Use the accounts and balances from Cowboy Ice Cream Company to construct balance sheet.
COWBOY ICE CREAM COMPANY
Balance Sheet
As of December 31, Year 4
Assets
Total assets
Liabilities
Total liabilities
2$
Stockholders' Equity
Total stockholders' equity
2$
Total liabilities and stockholders' equity
Transcribed Image Text:Income Stmt of Balance Sheet Statement of Cash flows Statement Changes Use the accounts and balances from Cowboy Ice Cream Company to construct balance sheet. COWBOY ICE CREAM COMPANY Balance Sheet As of December 31, Year 4 Assets Total assets Liabilities Total liabilities 2$ Stockholders' Equity Total stockholders' equity 2$ Total liabilities and stockholders' equity
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