Please do the statement of cf Changes in se and balance sheet
Transcribed Image Text:For the Year Ended December 31, Year 3
Cash,flows from operating activities:
ipped
Net cash flow from operating activities
$
Cash flows from investing activities:
Net cash flow from investing activities
Cash flows from financing activities:
Net cash flow from financing activities
2$
Ending cash balance
Balance Sheet
Analysis >
Transcribed Image Text:The trial balance of Pacilio Security Services, Inc. as of January 1, Year 3, had the following normal balances:
Cash
Accounts Receivable
Supplies
Prepaid Rent
Land
Accounts Payable
Unearned Revenue
Salaries Payable
Notes Payable
Common Stock
Retained Earnings
$8,900
1,500
65
800
4,000
1,050
200
1,200
2,000
8,000
2,815
ed
During Year 3, Pacilio Security Services experienced the following transactions:
1. Paid the salaries payable from Year 2.
2. Paid the balance of $2,000 on the debt owed to the Small Business Government Agency. The loan is interest-free.
3. Performed $32,000 of security services for numerous local events during the year; $21,000 was on account and $11,000 was for
cash.
4. On May 1, paid $3,000 for 12 months' rent in advance.
5. Purchased supplies on account for $700.
6. Paid salaries expense for the year of $9,000.
7. Incurred other operating expenses on account, $4,200.
8. On October 1, Year 3, a customer paid $1,200 for services to be provided over the next 12 months.
9. Collected $19,000 of accounts receivable during the year.
0. Paid $5,950 on accounts payable.
11. Paid $1,800 of advertising expenses for the year.
12. Paid a cash dividend to the shareholders of $4,650.
13. The market value of the land was determined to be $5,500 at December 31, Year 3.
Adjustments
14. There was $120 of supPplies on hand at the end of the year.
15. Recognized the expired rent.
16. Recognized the earned revenue from Year 2 and transaction no. 8.
17. Accrued salarles were $1,000 at December 31, Year 3.
Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.
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