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Complete the below financial statements from the information provided. Please support your analysis with at least 2 references. All assignments must be in the APA format.
Scenario 1: The following are balance sheet accounts for ABC Event Company for end of year (December 31, 20XX). Please note that: (the company paid $2,500 in cash for the equipment and financed the remaining $6,500 with a loan from the bank.)
Accounts payable $ 6,500
Accounts receivable 4,800
Cash 1,500
Equipment 9,000
Equipment Software 500
Notes payable 6,500
Owner’s equity ?
Required:
Find the missing account balance.
Prepare a simplified balance sheet from the information. Consider the ABC Event Company scenario in the lecture notes.
Provide a brief descriiption of your analysis.
Scenario 2: Income Statement for ABC Event Company
ABC Event Company’s food and beverage costs for the year were $35,000. Labor costs for part time and full-time employees were $65,000. Catering services generated $120,000. Other operating costs came to $12,500.
Required:
Prepare an income statement for year-end December 31, 20XX for ABC Event Company according to our lecture notes.
Provide a brief descriiption of your analysis.
Scenario 3: Prepare a Statement of Cash Flows using information given in the balance sheet and income statement.
Required:
Calculate the total cash inflows, cash outflows, and increase amount in cash for ABC Event Company.
Prepare a statement of cash flows for year-end December 31, 20XX. Consider the ABC Event Company scenario in the lecture notes.
Provide a brief descriiption of your analysis.
Assume $2,800 as cash invested by owner
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