The following information appilies to the questions displaye

The following information appilies to the questions displayed below Poole Company began the 2014 accounting period with $18,400 cash, $61,200 Inventory, $48,900 common stock, and $30,700 retained earmings During the 2014 accounting period, Poole experienced the folowing merchandise costing $38,100 for $75,200 on account to Mablie\'s General Store 2. Delivered the goods to Mable\'s under terms FOB destination Freight costs were $325 cash ved returned goods from Mable\'s The goods cost Poole Company $1,820 and were soild to Mable\'s for $3,880 4. Granted Mable\'s a $t.080 allowance for damaged goods that Mable\'s agreed to keep 5 Collected partial payment of $53,700 cash from accounts rec elvable 10.00 points Required a. Record the events in a statements model ike the one shown below, In the Cash Flow column, use QA to designate operating activity, IA for investment activity, FA for financing activity, NC for net change in cash and NA to indicate the element is not affected by the event. The first event is recorded as a example. (Enter any decreases to account balances and eash outflows with a minus sign.) NY Effeet of Events on the Financial Statements Assets Equity Cash Accounts eInventory CommonRetained Revenue Expenses Net Statement of Cash 61,200 48,900 8,400 1b. 2. 3b. S 18,400S 0%. $ 61.200-$ 48,900 Total ^? O Type here to search 40 ? 8

Solution

Assets Shareholders equity Income statement Statement of cash flow Event Cash + Accounts + Inventory = Common + Retained Revenue - Expenses = Net income Receivable Stock earnings Bal 18400 61200 48900 30700 1a 75200 75200 75200 75200 1b -38100 -38100 38100 -38100 2 -325 -325 325 -325 -325 OA 3a -3880 -3880 -3880 -3880 3b 1820 1820 -1820 1820 4 -1080 -1080 1080 -1080 5 53700 -53700 53700 OA Total 71775 16540 24920 48900 64335 71320 37685 33635