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ACCT301 Week 1 Homework – Problem # 1-33 on page 44 – Perfect Solution – Instant Delivery
Problem Statement
Problem # 1-33 on page 44 using Excel. Formulas are required.
Problem 1-33 Interrelationships among financial statementsCrawford Enterprises started the 2014 accounting period with $75,000 ofassets (all cash), $15,000 ofliabilities, and $25,000 ofcommon stock. During the year,Crawford earned cash revenues of$46,000, paid cash expenses of$26,000, and paid a cash dividend to stockholders of$5,000. Crawford also acquired $15,000 ofadditional cash from the sale ofcommon stock and paid $10,000 cash to reduce the liability owed to a bank.
Required
a. Prepare an income statement, statement ofchanges in stockholders’equity, period-end balancesheet, and statement ofcash flows for the 2014 accounting period. (Hint:Determine the amountofbeginning retained earnings before considering the effects ofthe current period events. It also might help to record all events under an accounting equation before preparing the statements.)
b. Determine the percentage oftotal assets thatwere provided by creditors, investors, and earnings.
c. Determine the balance in the Revenue, Expense,and Dividends accounts as ofJanuary 1, 2015
CHECK FIGURE
a.Net Income:$20,000
Total Assets:$95,000
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* You can also use 2CO option if you want to purchase through Credit Cards/Paypal but make sure you put the correct billing information otherwise you wont be able to receive any download link.
* Your paypal has to be pre-loaded in order to complete the purchase or otherwise please discuss it with us at [email protected].
* As soon as the payment is received, download link of the solution will automatically be sent to the address used in selected payment method.
* Please check your junk mails as the download link email might go there and please be patient for the download link email. Sometimes, due to server congestion, you may receive download link with a delay.
* All the contents are compressed in one zip folder.
* In case if you get stuck at any point during the payment process, please immediately contact us at [email protected] and we will fix it with you.
* We try our best to reach back to you on immediate basis. However, please wait for atleast 8 hours for a response from our side. Afterall, we are humans.
* Comments/Feedbacks are truely welcomed and there might be some incentives for you for the next lab/quiz/assignment.
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* MOST IMPORTANT Please use the tutorials as a guide and they need NOT to be used for any submission. Just take help from the material.
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