Seth Feye established Reliance Financial Services on July 1, 20Y2. Reliance Financial Services offers financial planning advice to its clients. The effect of each transaction and the balances after each transaction for July follow: Assets =Liabilities + Stockholders’ Equity Accounts Accounts Common Fees Salaries Rent Auto Supplies Misc. Cash +Receivable + Supplies = Payable + Stock - Dividends + Earned - Expense - Expense - Expense - Expense - Expense a. +52,000 +52,000 b. +6,200 +6,200 Bal. 52,000 6,200 6,200 52,000 c. -3,400 -3,400 Bal. 48,600 6,200 2,800 52,000 d. +106,000 +106,000 Bal. 154,600 6,200 2,800 52,000 106,000 e. -33,600 -33,600 Bal. 121,000 6,200 2,800 52,000 106,000 -33,600 f. -21,300 -14,400 -6,900 Bal. 99,700 6,200 2,800 52,000 106,000 -33,600 -14,400 -6,900 g. -60,000 -60,000 Bal. 39,700 6,200 2,800 52,000 106,000 -60,000 -33,600 -14,400 -6,900 h. -3,800 -3,800 Bal. 39,700 2,400 2,800 52,000 106,000 -60,000 -33,600 -14,400 -3,800 -6,900 i. +50,600 +50,600 Bal. 39,700 50,600 2,400 2,800 52,000 156,600 -60,000 -33,600 -14,400 -3,800 -6,900 j. -10,000 -10,000 Bal. 29,700 50,600 2,400 2,800 52,000 -10,000 156,600 -60,000 -33,600 -14,400 -3,800 -6,900 Prepare a statement of cash flows for the month ending July 31, 20Y2. Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. Use the minus sign to indicate cash outflows, cash payments and decreases in cash. You will not need to enter colons (:) on the financial statements. If an amount is zero, enter "0".

Seth Feye established Reliance Financial Services on July 1, 20Y2. Reliance Financial Services offers financial planning advice to its clients. The effect of each transaction and the balances after each transaction for July follow: Assets =Liabilities + Stockholders’ Equity Accounts Accounts Common Fees Salaries Rent Auto Supplies Misc. Cash +Receivable + Supplies = Payable + Stock - Dividends + Earned - Expense - Expense - Expense - Expense - Expense a. +52,000 +52,000 b. +6,200 +6,200 Bal. 52,000 6,200 6,200 52,000 c. -3,400 -3,400 Bal. 48,600 6,200 2,800 52,000 d. +106,000 +106,000 Bal. 154,600 6,200 2,800 52,000 106,000 e. -33,600 -33,600 Bal. 121,000 6,200 2,800 52,000 106,000 -33,600 f. -21,300 -14,400 -6,900 Bal. 99,700 6,200 2,800 52,000 106,000 -33,600 -14,400 -6,900 g. -60,000 -60,000 Bal. 39,700 6,200 2,800 52,000 106,000 -60,000 -33,600 -14,400 -6,900 h. -3,800 -3,800 Bal. 39,700 2,400 2,800 52,000 106,000 -60,000 -33,600 -14,400 -3,800 -6,900 i. +50,600 +50,600 Bal. 39,700 50,600 2,400 2,800 52,000 156,600 -60,000 -33,600 -14,400 -3,800 -6,900 j. -10,000 -10,000 Bal. 29,700 50,600 2,400 2,800 52,000 -10,000 156,600 -60,000 -33,600 -14,400 -3,800 -6,900 Prepare a statement of cash flows for the month ending July 31, 20Y2. Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. Use the minus sign to indicate cash outflows, cash payments and decreases in cash. You will not need to enter colons (:) on the financial statements. If an amount is zero, enter "0".

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter1: Introduction To Accounting And Business

Section: Chapter Questions

Problem 3PA: Seth Feye established Reliance Financial Services on July 1, 2016. Reliance Financial Services...

See similar textbooks

Related questions

Concept explainers

Topic Video

Question

Assets	=Liabilities	+ Stockholders’ Equity
		Accounts		Accounts	Common		Fees	Salaries	Rent	Auto	Supplies	Misc.
	Cash	+Receivable	+ Supplies	= Payable	+ Stock	- Dividends	+ Earned	- Expense	- Expense	- Expense	- Expense	- Expense
a.	+52,000				+52,000
b.			+6,200	+6,200

Bal.	52,000		6,200	6,200	52,000
c.	-3,400			-3,400

Bal.	48,600		6,200	2,800	52,000
d.	+106,000						+106,000

Bal.	154,600		6,200	2,800	52,000		106,000
e.	-33,600								-33,600

Bal.	121,000		6,200	2,800	52,000		106,000		-33,600
f.	-21,300									-14,400		-6,900

Bal.	99,700		6,200	2,800	52,000		106,000		-33,600	-14,400		-6,900
g.	-60,000							-60,000

Bal.	39,700		6,200	2,800	52,000		106,000	-60,000	-33,600	-14,400		-6,900
h.			-3,800								-3,800

Bal.	39,700		2,400	2,800	52,000		106,000	-60,000	-33,600	-14,400	-3,800	-6,900
i.		+50,600					+50,600

Bal.	39,700	50,600	2,400	2,800	52,000		156,600	-60,000	-33,600	-14,400	-3,800	-6,900
j.	-10,000					-10,000

Bal.	29,700	50,600	2,400	2,800	52,000	-10,000	156,600	-60,000	-33,600	-14,400	-3,800	-6,900

Prepare a statement of cash flows for the month ending July 31, 20Y2. Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. Use the minus sign to indicate cash outflows, cash payments and decreases in cash. You will not need to enter colons (:) on the financial statements. If an amount is zero, enter "0".

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.