The effects of transactions occurring during 2013 and their related end-of-year adjustments have been recorded below using the accounting equation. 
Required:
With your knowledge of transaction analysis using an accounting equation,
a) Prepare an income statement for 2013, and
b) Prepare a statement of cash flows for 2013.
Definitions:
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A website or web page that is updated regularly with written content or commentary, often focusing on a single subject or range of topics.
Wiki
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Credit Limit
A credit limit is the maximum amount of credit that a financial institution extends to a borrower, dictating the upper boundary of spending on a credit account.
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