Answer Happy

It it all the same exercise,
just different questions. Please help!!
Thank you in
advance
Required Information [The following information applies to the questions displayed below.] On January 1, Year 1, Brown Company borrowed cash from First Bank by issuing a $103,000 face-value, four-year term note that had an 5 percent annual interest rate. The note is to be repaid by making annual cash payments of $29,047 that include both interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $55,000 cash per year. Required a. Prepare an amortization schedule for the four-year period. (Round Intermediate calculations to nearest dollar amount. Round your answers to the nearest dollar amount.) BROWN COMPANY Amortization Schedule $103,000, 4-Year Term Note, 5% Interest Rate Principal Year Principal Balance on January 1 Cash Payment December 31 Applied to Interest Balance End of Period Year 1 Year 2 Year 3 Year 4 Applied to Principal
Req B1 Req B2 Req B3 Reg B4 Prepare an income statement for each of the four years. (Round your intermediate calculations and final answers to the nearest dollar amounts.) BROWN COMPANY Income Statements For the Year Ended December 31 Year 1 Year 2 Year 3 Year 4 $ 0 $ < Req B1 0 S 0 $ Req B3 > 0
Required Information [The following information applies to the questions displayed below.] On January 1, Year 1, Brown Company borrowed cash from First Bank by issuing a $103,000 face-value, four-year term note that had an 5 percent annual interest rate. The note is to be repaid by making annual cash payments of $29,047 that include both interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $55.000 cash per year. b. Prepare an income statement, balance sheet, and statement of cash flows for each of the four years. Rent revenue is collected in cash at the end of each year. (Hint: Record the transactions for each year in T-accounts before preparing the financial statements.) Complete this question by entering your answers in the tabs below. Req B1 Req B2 Req B3 Req B4 Prepare T-accounts for each of the four years. Rent revenue is collected in cash at the end of each year. (Select "cl" for all the closing entries. Round your intermediate calculations and final answers to the nearest dollar amounts.) Cash Land Year 1 Year 1 Ending Balance Ending Balance Year 2 Ending Balance Year 3 Ending Balance Year 4 Ending Balance Year 1 Year 1 Ending Balance Year 2 Ending Balance Year 2 -20 Notes Payable Retained Earnings < Prev of 14 = Next
Required Information [The following information applies to the questions displayed below.] On January 1, Year 1, Brown Company borrowed cash from First Bank by issuing a $103,000 face-value, four-year term note that had an 5 percent annual interest rate. The note is to be repaid by making annual cash payments of $29,047 that include both interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $55,000 cash per year. b. Prepare an income statement, balance sheet, and statement of cash flows for each of the four years. Rent revenue is collected in cash at the end of each year. (Hint: Record the transactions for each year in T-accounts before preparing the financial statements.) Complete this question by entering your answers in the tabs below. Req B1 Req B2 Req B3 Req B4 Prepare a balance sheet for each of the four years. (Round your intermediate calculations and final answers to the nearest dollar amounts.) BROWN COMPANY Balance Sheets As of December 31 Year 1 Year 2 Year 3 Year 4 Assets $ Total assets Liabilities Stockholders' equity Total liabilities and stockholders' equity $ < Req B2 0 $ 0 S 0 $ 0 $ Req B4 > 0 $ 0 $ 0
Required Information [The following information applies to the questions displayed below.] On January 1, Year 1, Brown Company borrowed cash from First Bank by issuing a $103,000 face-value, four-year term note that had an 5 percent annual interest rate. The note is to be repaid by making annual cash payments of $29,047 that include both interest and principal on December 31 of each year. Brown used the proceeds from the loan to purchase land that generated rental revenues of $55.000 cash per year. b. Prepare an income statement, balance sheet, and statement of cash flows for each of the four years. Rent revenue is collected in cash at the end of each year. (Hint: Record the transactions for each year in T-accounts before preparing the financial statements.) Complete this question by entering your answers in the tabs below. Req B1 Req B2 Req B3 Req B4 Prepare a statement of cash flows for each of the four years. (Round your intermediate calculations and final answers to the nearest dollar amounts. Enter cash outflows with a minus sign.) BROWN COMPANY Statements of Cash Flows For the Year Ended December 31 Year 1 Year 2 Year 3 Year 4 Cash flows from operating activities: Net cash flow from operating activities: Cash flows from investing activities: 0 Net cash flow from investing activities Cash flows from financing activities: 0 Net cash flow from financing activities Net change in cash Ending cash balance 0 $ $ < Req B3 0 $ Req B4 > 0 0 0 0 $ 0 0 0 0