Business, 20.10.2020 21:01 eweqwee4163

Malco Enterprises issued $14,000 of common stock when the company was started. In addition, Malco borrowed $44,000 from a local bank on July 1, 2018. The note had a 6 percent annual interest rate and a one-year term to maturity. Malco Enterprises recognized $76,500 of revenue on account in 2018 and $90,000 of revenue on account in 2019. Cash collections of accounts receivable were $62,900 in 2018 and $73,100 in 2019. Malco paid $43,000 of other operating expenses in 2018 and $49,000 of other operating expenses in 2019. Malco repaid the loan and interest at the maturity date. Required
a. Organize the information in accounts under an accounting equation.
b. What amount of net cash flow from operating activities would be reported on the 2018 cash flow statement?
c. What amount of interest expense would be reported on the 2018 income statement?
d. What amount of total liabilities would be reported on the December 31, 2018, balance sheet?
e. What amount of retained earnings would be reported on the December 31, 2018, balance sheet?
f. What amount of cash flow from financing activities would be reported on the 2018 statement of cash flows?
g. What amount of interest expense would be reported on the 2019 income statement?
h. What amount of cash flows from operating activities would be reported on the 2019 cash flow statement?
i. What amount of assets would be reported on the December 31, 2019, balance sheet?

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Malco Enterprises issued $14,000 of common stock when the company was started. In addition, Malco bo...

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