Hello, can I have some help with statement of cash flows? Thank you! RequiredUse the accounts and balances from Cowboy Ice Cream Company to construct their financial statements. You will need to create thefollowing:1. Income Statement2. Statement of Changes in Stockholders' Equity3. Balance Sheet4. Statement of Cash Flows (show only totals for each activity on the statement of cash flows).Complete this question by entering your answers in the tabs below.Statement ofCash flowsIncomeStmt ofBalance SheetStatementChangesUse the accounts and balances from Cowboy Ice Cream Company to construct statement of cash flows (show only totals foreach activity on the statement of cash flows). (Cash outflows should be indicated with a minus sign.)COWBOY ICE CREAM COMPANYStatement of Cash FlowsFor the Year Ended December 31, Year 4Cash flow from operating activitiesCash flow from investing activitiesCash flow from financing activitiesNet change in cashEnding cash balanceBalance Sheet Year 4 (December 31 yearBelow are the accounts and balances drawn from the records of Cowboy Ice Cream Company at the endend):$ 18,000(5,400)2,7005,00010,50018,0005,1007,000710(7,000) Cash flow from financing act.2,60081,000SuppliesCash flow from investing act.Beginning retained earningsPrepaid insuranceService revenueRent expenseDividendsOther operating expensesSupplies expense44,000Cash2201,1001,1007,4005,300Accounts receivablePrepaid rentUnearned revenueInsurance expenseBeginning common stockCash flow from operating act.Land38,000Common stock issuedAccounts payable15,530RequiredUse the accounts and balances from Cowboy Ice Cream Company to construct their financial statements. You will need to create thefollowing:1. Income Statement2. Statement of Changes in Stockholders' Equity3. Balance Sheet4. Statement of Cash Flows (show only totals for each activity on the statement of cash flows).

Working Note: 1. Beginning cash balance = Ending cash balance - Net Change in cash = $10,500-…

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): Supplies Cash flow from investing act. Prepaid insurance Service revenue Other operating expenses Supplies expense Insurance expense Beginning common stock Cash flow from operating act. Common stock issued $ 18,000 (5,400) 2,700 5,000 10,500 18,000 5,100 7,000 38,000 15,530 710 Beginning retained earnings (7,000) Cash flow from financing act. 2,600 ৪1,000 44, 0০0 Rent expense Dividends Cash Accounts receivable Prepaid rent Unearned revenue 220 1,100 1,100 7,400 5,300 Land Accounts payable

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): Supplies Cash flow from investing act. Prepaid insurance Service revenue Other operating expenses Supplies expense Insurance expense Beginning common stock Cash flow from operating act. Common stock issued $ 18,000 (5,400) 2,700 5,000 10,500 18,000 5,100 7,000 38,000 15,530 710 Beginning retained earnings (7,000) Cash flow from financing act. 2,600 ৪1,000 44, 0০0 Rent expense Dividends Cash Accounts receivable Prepaid rent Unearned revenue 220 1,100 1,100 7,400 5,300 Land Accounts payable

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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