Ch3. Video 9 - Completing the Accoutning Cycle (Financial Statements) Example

This video tutorial covers the completion of the accounting cycle by preparing financial statements. It begins with a recap of previous chapters and then explains how to create an income statement, a statement of retained earnings, a balance sheet, and a statement of cash flow. The tutorial emphasizes the importance of understanding revenues, expenses, assets, liabilities, and equity, and how they are represented in financial statements. The use of a cash T table is highlighted for simplifying the statement of cash flow.

What is the ending retained earnings balance after accounting for dividends?

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What is the total assets calculated in the balance sheet?

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What is the increase in cash reported in the statement of cash flow?

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