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?

What is the total assets calculated in the balance sheet?

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