Problem 1: Prepare a balance sheet, with accounts in their proper sequence; from the following information, what is the Owner's Equity?
Land $100,000
Accounts Payable $25,000
Owners Equity ???
Accounts Receivable $50,000
Cash $10,000
Inventory $20,000
Problem 2: Prepare a cash flow statement, in the proper format, in th proper order, from the following information. Make sure you use + or - properly
Cash used for investing activities $30,000
Beginning cash $100,000
Cash from routine operations $5,000
Cash from financing activities $15,000
What is the Ending Cash?