Accounting and Finance Foundations

Unit 7

Accounting and Finance Foundations Unit 7: Financial Statements 614

Financial Statements

Lesson 18.7 Review of the Accounting Cycle:

Putting it all Together (cont’d)

Chapter 18

Student Guide

Mrs. King’s Interiors

Statement of Retained Earnings

December 31, 20YY

Stockholder’s Equity

Mrs. King’s Capital $37,440

Owner’s Draw $600

Retained Earnings

$600 $37,440

Total Stockholder’s Equity $36,840

Mrs. King’s Interiors

Statement of Cash Flows

December 31, 20YY

Cash Flow from Operations

Net Income $6,940

Adjustments to cash

Accounts Receivable $(2,500)

Depreciation $360

Increase in Accounts Payable $6,500

Net Cash from Operations $11,300

Cash Flow from Investing

Net Cash from Investing

Cash Flow from Financing

Owner’s Draw $(600)

Net Cash from Financing $(600)

Cash Flow for Year Ending December 31, 20YY $10,700