Homework answers / question archive / REDD COMPANY Horizontal Statements Model - Year 2 Balance Sheet Income Statement Event Statement of Cash Flows Assets Cash Accounts + Receivable 7,900 + + Expenses = Stockholders' Equity Common Stock Earnings 7,400 + 2,400 Retained Revenue Net Income Bal - 1a

REDD COMPANY Horizontal Statements Model - Year 2 Balance Sheet Income Statement Event Statement of Cash Flows Assets Cash Accounts + Receivable 7,900 + + Expenses = Stockholders' Equity Common Stock Earnings 7,400 + 2,400 Retained Revenue Net Income Bal - 1a

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REDD COMPANY Horizontal Statements Model - Year 2 Balance Sheet Income Statement Event Statement of Cash Flows Assets Cash Accounts + Receivable 7,900 + + Expenses = Stockholders' Equity Common Stock Earnings 7,400 + 2,400 Retained Revenue Net Income Bal - 1a. = Liabilities + Merchandise Accounts Inventory Payable 1,900 = + 5,400 = 5,400+ 490 = + (450) = (450) + (99) = (4,950) + + + + = 1b. . (490) + + + - = 1 (490) OA 2. . + + 3. 3 (4,851) + + (4,851) OA 4a. + 8,900 + + 8,900- 4b. + + (5,900) = + 1 + 5,900 - 5a. (790) + + + +1 (790) - (790) OA 5b. + 490 + 490 = + (490) 5901 = 8,900 (5,900) (790) 490 (590) (178) (231) $ 1,701 6. 6 + = + + 1 + OA (590) + 8,722+ (590) 8,722 7. (8,900)| + + (178) - OA 8. + + + = (231) = 1,600 = = + 231) = $ 6.231 = Bal $ 9,901 + $ 490 + $ $ 0 + $ 7,400 + $ 2,400 $ 7,932 $ 2,001/