Is there specific order in which financial statements

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Reference no: EM133657821

Alfred Hansen publishes an online travel blog. In need of? cash, the business applies for a loan with National Bank. The bank requires borrowers to submit an income? statement, statement of? owner's equity, balance? sheet, and statement of cash flows. With little knowledge of? accounting, Alfred? Hansen, owner, does not know how to proceed.

1. Is there a specific order in which the financial statements must be? prepared?

2. Explain how to prepare each statement.

Question content area bottom Part 1

1. Is there a specific order in which the financial statements must be? prepared? Complete the table below to show the order in which each statement should be prepared. ?(Abbreviation used:? n/a = not? applicable.) Order of Preparation Income statement 1st Statement of owner's equity 2nd Balance sheet 3rd Statement of cash flows 4th Part 2 Requirement.

2. Explain how to prepare each statement. Begin by selecting the items listed that pertain to preparing the income statement.? (Complete all input? fields.)

Reference no: EM133657821

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