34:40Zoogle Corporation is an internet search provider that experienced the following events during its first year of operation1. Acquired $484,000 cash needed to start the company by issuing common stock.2. Purchased land for $234,000 cash.3. Earned $82,000 cash from selling advertisements during its first year of operations.4. Borrowed $184,000 cash from a local bank to assist in financing future operations.Required:Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, andcash flows. More specifically, record the amounts of the events into the model. Also, in the Statement of Cash Flows coluthe cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). The first transaction is showexample.Note Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input isEventNumberAssetsBalance SheetLiabilitiesNotes+Stockholders' EquityRetainedFarningsCommonတင်းမာIncome StatementRevenueExpenses =NetIncomeStater

Horizontal Analysis -A comparison of past financial data over several reporting periods is known as…

Zoogle Corporation is an internet search provider that experienced the following events during its first year 1. Acquired $484,000 cash needed to start the company by issuing common stock. 2. Purchased land for $234,000 cash. 3. Earned $82,000 cash from selling advertisements during its first year of operations. 4. Borrowed $184,000 cash from a local bank to assist in financing future operations. Required: Use a horizontal financial statements model to show how each event affects the balance sheet, income state cash flows. More specifically, record the amounts of the events into the model. Also, in the Statement of Casi the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). The first transac example. Not Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if Balance Sheet Income Statement

Zoogle Corporation is an internet search provider that experienced the following events during its first year 1. Acquired $484,000 cash needed to start the company by issuing common stock. 2. Purchased land for $234,000 cash. 3. Earned $82,000 cash from selling advertisements during its first year of operations. 4. Borrowed $184,000 cash from a local bank to assist in financing future operations. Required: Use a horizontal financial statements model to show how each event affects the balance sheet, income state cash flows. More specifically, record the amounts of the events into the model. Also, in the Statement of Casi the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). The first transac example. Not Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if Balance Sheet Income Statement

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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