Please help me fill out this table. I am so confused on how to. A) please help me determine the amount of assets that appear on the December 31, year 1, balance sheet. B) Please help me find the total amount of net income that will appear on the income statement. C) Please help me find the amount of cash flow from financing activities that will appear on the statement of cash flows. **Horizontal Financial Statements Model: An Overview for The Frame Shop (TFS) - Year 1****Introduction:**The horizontal financial statements model below illustrates various transactions encountered by The Frame Shop (TFS) in Year 1. Assume all transactions follow the accounting equation and involve cash.**Objective:**Complete the following table with the missing data, representing different activities:- **FA**: Financing Activities- **IA**: Investing Activities- **OA**: Operating Activities- **NC**: Net Change(Note: Amounts to be deducted are displayed with a minus sign.)**Table: The Frame Shop (TFS) - Horizontal Statements Model for Year 1***Horizontal Statements Model for Year 1:*| Timing | **Balance Sheet** | | | **Income Statement** | **Statement of Cash Flows** ||--------------|------------------------------------------------|--------------|--------------|-----------------------------------------------|----------------------------|| | **Assets** | **=** | **Liabilities + Stockholders' Equity** | | | | | || | **Cash** | **+** | **Land** | **=** | **Notes Payable** | **Common Stock** | **+** | **Retained Earnings** | **Revenue** | **−** | **Expenses** | **=** | **Net Income** | | || **Beg.** | 0 | 0 | 0 | = | 0 | 0 | + | 0 | 0 | − | 0 | = | 0 | 0 || **1.** | 200,000 | 0 | 0 | = | 0 | 200,000 | + | 0 | 0 | − | 0 | = | 0 | 200,000 (FA) || **2.** | 0 | 350,000 | | = | 350,000 | 0 | + | 0 | 0 | − | 0 | = | 0 | 350,000 (IA) || **3.** | (500,000) |

The financial statements of the business includes the income statement and balance sheet of the…

Required a. The following table contains missing data which should be completed. Use the letters FA to represent financing activity, IA to represent investing activities, OA to represent operating activities, and NC to represent net change. (Amounts to be deducted should be indicated with a minus sign.) THE FRAME SHOP (TFS) Horizontal Statements Model for Year 1 Balance Sheet Income Statement Assets Liabilities + Stockholders' Equity Revenue Expense = Net Income - Statement of Cash Flows Notes Payable + + Retained Earnings 0 + 0 + 0= 0 + + = 200,000 FA 350,000+ + = + + = + 350,000 (500,000) 95,000 OA (65,000) OA (12,000) + = + 00.000 NO Beg. 1. 2. 3. 4. 5. 6. Cash + 0+ 200,000+ 350,000 + (500,000) + (65,000) + (12,000) + Land = = 0= = = = = = + + Common Stock 550.000 0 (12,000) 10.000 0 95,000 05. 200al 95,000 (65,000) 00.00

Required a. The following table contains missing data which should be completed. Use the letters FA to represent financing activity, IA to represent investing activities, OA to represent operating activities, and NC to represent net change. (Amounts to be deducted should be indicated with a minus sign.) THE FRAME SHOP (TFS) Horizontal Statements Model for Year 1 Balance Sheet Income Statement Assets Liabilities + Stockholders' Equity Revenue Expense = Net Income - Statement of Cash Flows Notes Payable + + Retained Earnings 0 + 0 + 0= 0 + + = 200,000 FA 350,000+ + = + + = + 350,000 (500,000) 95,000 OA (65,000) OA (12,000) + = + 00.000 NO Beg. 1. 2. 3. 4. 5. 6. Cash + 0+ 200,000+ 350,000 + (500,000) + (65,000) + (12,000) + Land = = 0= = = = = = + + Common Stock 550.000 0 (12,000) 10.000 0 95,000 05. 200al 95,000 (65,000) 00.00

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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