Assume the following beginning balance for Rustic Camp Sites as of January 1, 20xx: ...
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Accounting
Assume the following beginning balance for Rustic Camp Sites as of January 1, 20xx:
Cash - $51,000
Land - $500,000
Notes Payable - $400,000
Common Stock $120,000
Retained Earnings $31,000
Assume the following ending balance as of the end of the year
Cash - $230,000
Land - $400,000
Notes Payable - $400,000
Common Stock $152,000
Ending Retained Earnings $78,000
Dividends - $9,000
Revenue - $116,000
Expense - $60,000
Construct an income statement, statement of changes in stockholders equity and balance sheet as of the end of the year 20xx, Using Excel formatted like below:
Rustic Camp Sites
Rustic Camp Sites
Income Statement
Balance Sheet
For the Year Ended December 31, 20xx
December 31, 20xx
Revenue
Cash
Expense
Land
Net Income
Total Assets
Notes Payable
Rustic Camp Sites
Statement of Changes in Stockholders Equity
Common Stock
For the Year Ended December 31, 20xx
Retained Earnings
Total Liabilities & S. Equity
Beginning Common Stock
Additional Common Stock
Ending Common Stock
Beginning Retained Earnings
Net Income
Less Dividends
Ending Retained Earnings
Total Stockholders Equity
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