Jose Loder established Bronco Consulting on August 1, 20Y1. The effect of each transaction and...
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Accounting
Jose Loder established Bronco Consulting on August 1, 20Y1. The effect of each transaction and the balances after each transaction for August follow:
Assets
=
Liabilities +
Stockholders' Equity
Cash
+
Accounts Receivable
+
Supplies
=
Accounts Payable
+
Common Stock
-
Dividends
+
Fees Earned
-
Salaries Expense
-
Rent Expense
-
Auto Expense
-
Supplies Expense
-
Misc. Expense
a.
+33,480
+33,480
b.
+2,910
+2,910
Bal.
33,480
2,910
2,910
33,480
c.
+32,810
+32,810
Bal.
66,290
2,910
2,910
33,480
32,810
d.
-9,000
-9,000
Bal.
57,290
2,910
2,910
33,480
32,810
-9,000
e.
-1,410
-1,410
Bal.
55,880
2,910
1,500
33,480
32,810
-9,000
f.
+23,100
+23,100
Bal.
55,880
23,100
2,910
1,500
33,480
55,910
-9,000
g.
-6,360
-4,350
-2,010
Bal.
49,520
23,100
2,910
1,500
33,480
55,910
-9,000
-4,350
-2,010
h.
-13,400
-13,400
Bal.
36,120
23,100
2,910
1,500
33,480
55,910
-13,400
-9,000
-4,350
-2,010
i.
-1,700
-1,700
Bal.
36,120
23,100
1,210
1,500
33,480
55,910
-13,400
-9,000
-4,350
-1,700
-2,010
j.
-8,400
-8,400
Bal.
27,720
23,100
1,210
1,500
33,480
-8,400
55,910
-13,400
-9,000
-4,350
-1,700
-2,010
Required:
1. Prepare an income statement for the month ended August 31, 20Y1.
Bronco Consulting
Income Statement
For the Month Ended August 31, 20Y1
$fill in the blank ab3524f3b044fa6_2
Expenses:
$fill in the blank ab3524f3b044fa6_4
fill in the blank ab3524f3b044fa6_6
fill in the blank ab3524f3b044fa6_8
fill in the blank ab3524f3b044fa6_10
fill in the blank ab3524f3b044fa6_12
Total expenses
fill in the blank ab3524f3b044fa6_13
$fill in the blank ab3524f3b044fa6_15
2. Prepare a statement of stockholders equity for the month ended August 31, 20Y1. If an answer is zero, enter "0". If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign.
Bronco Consulting
Statement of Stockholders Equity
For the Month Ended August 31, 20Y1
Common Stock
Retained Earnings
Total
$fill in the blank d36125fe1fddfec_2
$fill in the blank d36125fe1fddfec_3
$fill in the blank d36125fe1fddfec_4
fill in the blank d36125fe1fddfec_6
fill in the blank d36125fe1fddfec_7
fill in the blank d36125fe1fddfec_8
fill in the blank d36125fe1fddfec_10
fill in the blank d36125fe1fddfec_11
fill in the blank d36125fe1fddfec_12
fill in the blank d36125fe1fddfec_14
fill in the blank d36125fe1fddfec_15
fill in the blank d36125fe1fddfec_16
fill in the blank d36125fe1fddfec_18
fill in the blank d36125fe1fddfec_19
fill in the blank d36125fe1fddfec_20
3. Prepare a balance sheet as of August 31, 20Y1. When entering assets, enter them in order of liquidity.
Bronco Consulting
Balance Sheet
August 31, 20Y1
Assets
$fill in the blank de4faefb5fa2fd7_2
fill in the blank de4faefb5fa2fd7_4
fill in the blank de4faefb5fa2fd7_6
Total assets
$fill in the blank de4faefb5fa2fd7_7
Liabilities
$fill in the blank de4faefb5fa2fd7_9
Stockholders' Equity
$fill in the blank de4faefb5fa2fd7_11
fill in the blank de4faefb5fa2fd7_13
Total stockholders' equity
fill in the blank de4faefb5fa2fd7_14
Total liabilities and stockholders' Equity
$fill in the blank de4faefb5fa2fd7_15
4. Prepare a statement of cash flows for the month ending August 31, 20Y1. For those boxes in which no entry is required, enter "0". Use the minus sign to indicate cash outflows, cash payments, and decreases in cash.
Bronco Consulting
Statement of Cash Flows
For the Month Ended August 31, 20Y1
Cash flows from (used for) operating activities:
$fill in the blank 4c1144fd4f97073_2
fill in the blank 4c1144fd4f97073_4
$fill in the blank 4c1144fd4f97073_6
Cash flows from (used for) investing activities:
fill in the blank 4c1144fd4f97073_7
Cash flows from (used for) financing activities:
$fill in the blank 4c1144fd4f97073_9
fill in the blank 4c1144fd4f97073_11
fill in the blank 4c1144fd4f97073_13
$fill in the blank 4c1144fd4f97073_15
fill in the blank 4c1144fd4f97073_17
fill in the blank 4c1144fd4f97073_19
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