CYCLONE, INC. CYCLONE, INC. Statement of Stockholders' Equity Year ended Dec. 31, 2021 Income Statement Year ended Dec. 31, 2021 Common Retained Total Stk. Revenues (a) Stock Earnings Equity Expenses: Beginning balance $14,000 $7,000 $21,000 Salaries $13,000 Issuances of stock (c) (c) Rent 7,000 Add: Net income 5,000 5,000 Advertising 5,000 Less: Dividends (d) $8,000 (d) $25,000 Net income (b) Ending balance $17,000 CYCLONE, INC. Balance Sheet Dec. 31, 2021 Assets Liabilities $ 1,100 (e) Cash Accounts payable $4,000 Supplies Stockholders' Equity Land 6,000 Common stock (g) Building 16,000 Retained earnings (h) Total liabilities and Total assets stockholders' equity

CYCLONE, INC. CYCLONE, INC. Statement of Stockholders' Equity Year ended Dec. 31, 2021 Income Statement Year ended Dec. 31, 2021 Common Retained Total Stk. Revenues (a) Stock Earnings Equity Expenses: Beginning balance $14,000 $7,000 $21,000 Salaries $13,000 Issuances of stock (c) (c) Rent 7,000 Add: Net income 5,000 5,000 Advertising 5,000 Less: Dividends (d) $8,000 (d) $25,000 Net income (b) Ending balance $17,000 CYCLONE, INC. Balance Sheet Dec. 31, 2021 Assets Liabilities $ 1,100 (e) Cash Accounts payable $4,000 Supplies Stockholders' Equity Land 6,000 Common stock (g) Building 16,000 Retained earnings (h) Total liabilities and Total assets stockholders' equity

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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