Rowdy Company's First Year in Operation Was 2012

question 34

Essay

Rowdy Company's first year in operation was 2012.The following events occurred in 2012:
1.Acquired $5,000 stock from issuing common stock.
2.Purchased inventory for $3,000 cash.
3.Sold inventory that had cost $2,100 for $3,600 cash.
Required:
a)Record the events in the statements model,below.Show amounts of increases and decreases.Indicate whether each cash flow is an operating activity,investing activity,or financing activity. b)Determine the total for each column after you have recorded the events.
c)What was the amount of total assets at the end of the period?

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Definitions:

Access Status Bar

The lower portion of an application window that displays information about the document's status and common tasks.

CTRL+D

a keyboard shortcut commonly used for the "Bookmark" action in web browsers and for "Fill Down" in spreadsheet programs.

Datasheet

A view or representation of database data, displayed in a table format with rows and columns.

DELETE

An operation to remove data or a file from a computer or storage device.