Complete this question by entering your answers in the tabs below. Income Stmt of Statement of Balance Sheet Statement Changes Cash flows Use the accounts and balances from Cowboy Ice Cream Company to construct an income statement. COWBOY ICE CREAM COMPANY Income Statement For the Year Ended December 31, Year 4 Revenue Total revenue Expenses Total expenses %24 %24
Complete this question by entering your answers in the tabs below. Income Stmt of Statement of Balance Sheet Statement Changes Cash flows Use the accounts and balances from Cowboy Ice Cream Company to construct an income statement. COWBOY ICE CREAM COMPANY Income Statement For the Year Ended December 31, Year 4 Revenue Total revenue Expenses Total expenses %24 %24
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Hello can I get some assistance? I also need stmt of changes, balance sheet , statement of cash flows. Thank you so much
Transcribed Image Text: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
$ 18,000
(5,400)
2,700
5,000
10,500
18,000
5,100
7,000
38,000
710
Beginning retained earnings
(7,000) Cash flow from financing act.
2,600
81,000
44,000
220
Rent expense
Dividends
Cash
Other operating expenses
Supplies expense
Insurance expense
Beginning common stock
Cash flow from operating act.
Common stock issued
Accounts receivable
1,100
1,100
7,400
5,300
Prepaid rent
Unearned revenue
Land
Accounts payable
15,530
Required
Use the accounts and balances from Cowboy lce 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).
Complete this question by entering your answers in the tabs below.
Stmt of
Changes
Income
Statement of
Balance Sheet
Statement
Cash flows
Use the accounts and balances from Cowboy Ice Cream Company to construct an income statement.
COWBOY ICE CREAM COMPANY
Income Statement
For the Year Ended December 31, Year 4
Revenue
Transcribed Image Text: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).
Complete this question by entering your answers in the tabs below.
Income
Stmt of
Statement of
Cash flows
Balance Sheet
Statement
Changes
Use the accounts and balances from Cowboy Ice Cream Company to construct an income statement.
COWBOY ICE CREAM COMPANY
Income Statement
For the Year Ended December 31, Year 4
Revenue
Total revenue
2$
Expenses
Total expenses
24
Stmt of Changes >
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