that the balance sheet is in balance. (b) that not income is properly calculated

Question

that the balance sheet is in balance. (b) that not income is properly calculated, (c) what caused changes in the retained eamings account and (d) what caused changes in the cash account (Cash outflows should the relained eamings account, and (d) what caused changes in the cash account (Cash outflows should be indicated with a minus sign.) Assets Liablities Stockholders Equity Revenue Expenses Not Income Dividends Beginning Relained Eamings Ending Retained Eaminges Cash Flows from Operating Acivities5 700 Cash Flows from Investing Activities Cash Flows from Financing Activitis $79.500 18,500 32.100 18 950 13.150 4,900 20.500 Ending Cash 400

Explanation / Answer

a)Asset = liabilities + stockholders equity

79500 = 18500+61000

79500 = 79500

b)Net income = Revenue -expense

   13150 = 32100- 18950

    13150 = 13150

c)Ending retained earning=beginning retained earning+ net income -dividend

28750 = 20500 +13150- 4900

28750 = 28750

d)Ending cash =beginning cash+Cash flow from operating activity+investing activity+financing activity

6400=3200+15700-7200-5300

6400 = 6400

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