Reference no: EM131795931
Prepare the statement of cash flows of Ebert Coffee Roasters? Corp., for the month ended justAugust 31,2015
Payments of cash:
Acquisition of equipment. . . . . . . . . . .203,500
Cash balance, August 1, 2015. . . . . . . .$0
Dividends. . . . . . . . . . . . . . . . . . . . . .2,900
Cash balance, August 31, 2015. . . . . . .5,800
Retained earnings
Cash receipts:
August 1, 2015. . . . . . . . . . . . . . . . . .0
Issuance (sale) of stock to owners. . . .17,200
Retained earnings
Rent expense. . . . . . . . . . . . . . . . . . . .1,800
August 31, 2015 190,700
Common stock. . . . . . . . . . . . . . . . . . .17,200
Utilities expense. . . . . . . . . . . . . . . . . .5,600
Equipment. . . . . . . . . . . . . . . . . . . . . .203,500
Adjustments to reconcile net income
Office supplies. . . . . . . . . . . . . . . . . . .7,300
to net cash provided by operations. . . .1,400
Accounts payable. . . . . . . . . . . . . . . . .8,700
Salary expense. . . . . . . . . . . . . . . . . . .79,000
Service revenue. . . . . . . . . . . . . . . . . .280,000
Ebert Coffee Roasters Corp. Statement of Retained Earnings For the Month Ended August 31, 2015
| Retained earnings, August 1, 2015 |
0 |
| Add: Net income |
193600 |
| Less: Dividends |
193600 |
| Retained earnings, August 31, 2015 |
2900 |
| |
190700 |
Ebert Coffee Roasters Corp. Income Statement For the Month Ended August 31, 2015
| Revenue: |
|
|
| Service revenue |
|
$280,000 |
| Expenses: |
|
|
| Salary expense |
79000 |
|
| Utilities expense |
5600 |
|
| Rent expense |
1800 |
|
| Total expenses |
|
86400 |
| Net income |
|
193600 |
Ebert Coffee Roasters Corp. Balance Sheet August 31, 2015
| Assets |
|
Liabilities |
|
| Cash |
5800 |
Accounts payable |
8700 |
| Office supplies |
7300 |
Stockholders' Equity |
|
| Equipment |
203500 |
Common stock |
17200 |
| |
|
Retained earnings |
190700 |
| |
|
Total stockholders' equity |
207900 |
| Total assets |
216600 |
Total liabilities and stockholders'equity
|
216600 |