E1-1 reporting amounts on the four basic financial statements
E1-1 Reporting Amounts on the Four Basic Financial Statements [LO2] Using the following table and the equations underlying each of the four basic financial statements, show (a) that the balance sheet is in balance, (b) that net income is properly calculated, (c) what caused changes in the retained earnings account, and (d) what caused changes in the cash account. (Negative amounts should be indicated by […]