Saint leo MBA560 module 1 Home work (January 09, 2014)

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Problem 1-30

a. Write an
accounting equation, and record the effects of each accounting event under the appropriate
headings for each year. Record the amounts of revenue, expense, and dividends in
the Retained Earnings column. Provide appropriate titles for these accounts in
the last column of the table.

b. Prepare an
income statement, statement of changes in stockholders’ equity, year-end
balance sheet, and statement of cash flows for each year.

c. Determine the
amount of cash that is in the retained earnings account at the end of 2012 and
2013.

d. Examine the balance sheets for the two years. How did
assets change from 2012 to 2013?

e. Determine the balance in the Retained Earnings account
immediately after Event 2 in 2012 and in 2013 are recorded.

Problem 2-32

The following information was drawn from the records of Paso
& Associates at December 31, 2012.

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Use the preceding information to construct an income
statement, statement of changes in
stockholders’ equity, balance sheet, and statement of cash flows. (Show only
totals for each activity on the statement of cash flows.) (Edmonds. Survey of Accounting. 2012)

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