please answer within the format by providing formula the detailed working Please provide answer in text (Without image) Please provide answer in text (Without image) Please provide answer in text (Without image) Tamarisk Inc. had the following balance sheet at December 31, 2024. Tamarisk Inc. Balance Sheet December 31, 2024 Cash $22,640 Accounts payable $32,640 Accounts receivable 23,840 Notes payable (long-term) 43,640 Investments 34,640 Common stock 102,640 Plant assets (net) 81,000 Retained earnings 25,840 Land 42,640 $204,760 $204,760 During 2025, the following occurred. 1. Tamarisk Inc. sold part of its debt investment portfolio for $16,327. This transaction resulted in a gain of $4,727 for the firm. The company classifies these investments as available-for-sale. 2. A tract of land was purchased for $15,640 cash. 3. Long-term notes payable in the amount of $17,327 were retired before maturity by paying $17,327 cash. 4. An additional $21,327 in common stock was issued at par. 5. Dividends of $9,527 were declared and paid to stockholders. 6. Net income for 2025 was $34,640 after allowing for depreciation of $12,327. 7. Land was purchased through the issuance of $37,640 in bonds. 8. At December 31, 2025, Cash was $39,640, Accounts Receivable was $44,240, and Accounts Payable remained at $32,640. Prepare an unclassified balance sheet at it would appear at December 31, 2025
Reporting Cash Flows
Reporting of cash flows means a statement of cash flow which is a financial statement. A cash flow statement is prepared by gathering all the data regarding inflows and outflows of a company. The cash flow statement includes cash inflows and outflows from various activities such as operating, financing, and investment. Reporting this statement is important because it is the main financial statement of the company.
Balance Sheet
A balance sheet is an integral part of the set of financial statements of an organization that reports the assets, liabilities, equity (shareholding) capital, other short and long-term debts, along with other related items. A balance sheet is one of the most critical measures of the financial performance and position of the company, and as the name suggests, the statement must balance the assets against the liabilities and equity. The assets are what the company owns, and the liabilities represent what the company owes. Equity represents the amount invested in the business, either by the promoters of the company or by external shareholders. The total assets must match total liabilities plus equity.
Financial Statements
Financial statements are written records of an organization which provide a true and real picture of business activities. It shows the financial position and the operating performance of the company. It is prepared at the end of every financial cycle. It includes three main components that are balance sheet, income statement and cash flow statement.
Owner's Capital
Before we begin to understand what Owner’s capital is and what Equity financing is to an organization, it is important to understand some basic accounting terminologies. A double-entry bookkeeping system Normal account balances are those which are expected to have either a debit balance or a credit balance, depending on the nature of the account. An asset account will have a debit balance as normal balance because an asset is a debit account. Similarly, a liability account will have the normal balance as a credit balance because it is amount owed, representing a credit account. Equity is also said to have a credit balance as its normal balance. However, sometimes the normal balances may be reversed, often due to incorrect journal or posting entries or other accounting/ clerical errors.
please answer within the format by providing formula the detailed working
Please provide answer in text (Without image)
Please provide answer in text (Without image)
Please provide answer in text (Without image)
Tamarisk Inc. had the following
|
Tamarisk Inc. Balance Sheet December 31, 2024 |
||||||
| Cash | $22,640 | Accounts payable | $32,640 | |||
| 23,840 | Notes payable (long-term) | 43,640 | ||||
| Investments | 34,640 | Common stock | 102,640 | |||
| Plant assets (net) | 81,000 | 25,840 | ||||
| Land | 42,640 | $204,760 | ||||
| $204,760 |
During 2025, the following occurred.
| 1. | Tamarisk Inc. sold part of its debt investment portfolio for $16,327. This transaction resulted in a gain of $4,727 for the firm. The company classifies these investments as available-for-sale. | |
| 2. | A tract of land was purchased for $15,640 cash. | |
| 3. | Long-term notes payable in the amount of $17,327 were retired before maturity by paying $17,327 cash. | |
| 4. | An additional $21,327 in common stock was issued at par. | |
| 5. | Dividends of $9,527 were declared and paid to stockholders. | |
| 6. | Net income for 2025 was $34,640 after allowing for |
|
| 7. | Land was purchased through the issuance of $37,640 in bonds. | |
| 8. | At December 31, 2025, Cash was $39,640, Accounts Receivable was $44,240, and Accounts Payable remained at $32,640. |
Prepare an unclassified balance sheet at it would appear at December 31, 2025
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