1 answer

Required information (The following information applies to the questions displayed below.] On January 1, 2018, Brown...

Question:

Required information (The following information applies to the questions displayed below.] On January 1, 2018, Brown Co. borr
Complete this question by entering your answers in the tabs below. Req C Inc Stmt Req C CF Stmt Prepare the income statement
Req C Inc Stmt Req C Bal Req C CF Stmt Sheet Prepare the balance sheet for each of the four years. (Round your answers to the
2018 2019 2020 2021 Cash flows from operating activities Net cash flow from operating activities Cash flows from investing ac
Required information (The following information applies to the questions displayed below.] On January 1, 2018, Brown Co. borrowed cash from First Bank by issuing a $80,000 face value, four-year term note that had an 6 percent annual interest rate. The note is to be repaid by making annual cash payments of $23,087 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 $42.400 cash per year. c. Prepare an income statement, a balance sheet, and a statement of cash flows for each of the four years. Complete this question by entering your answers in the tabs below. Reg C Inc Stmt Reg C Bal Sheet Req C CF Stmt Prepare the income statement for each of the four years. (Round your answers to the nearest whole dollar amount.) BROWN CO.
Complete this question by entering your answers in the tabs below. Req C Inc Stmt Req C CF Stmt Prepare the income statement for each of the four years. (Round your answers to the ne BROWN CO. Income Statement For the Year Ended December 31 2018 2019 2020 2021 ReqC Bal Sheet >
Req C Inc Stmt Req C Bal Req C CF Stmt Sheet Prepare the balance sheet for each of the four years. (Round your answers to the nearest whole BROWN CO. Balance Sheet As of December 31 2018 2019 2020 2021 Assets Total assets Liabilities 0S 0 0
2018 2019 2020 2021 Cash flows from operating activities Net cash flow from operating activities Cash flows from investing activities 0 0 0 0 0 0 0 0 Net cash flows from investing activities Cash flows from financing activities Net cash flows from financing activities Net change in cash 0 0 0 0 0 0 0 0 Ending cash balance 0 S 0 < Prev 3 4 of 8 H

Answers

Answer is given below with loan amortization schedule

Principal payment = $23,087 - Interest

Working notes Interest at 6% Principal Loan amount $80,000 Total Closing balance January 1 2018 31st Dec 2018 31st Dec 2019 3

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