Answer:
(a) Increase in cash = $50,200
(b) Total Assets = Liabilities and Stockholders' Equity = $298,900
Explanation:
Note: There are errors as date and name inconsistency in the requirements in this question. The requirements are therefore correctly stated before answering the question as follows:
(a) Prepare a statement of cash flows for the year 2020 for Ayayai Inc.
(b) Prepare the balance sheet as it would appear as of December 31, 2020.
The explanation of the answer is now provided as follows:
(a) Prepare a statement of cash flows for the year 2020 for Ayayai Inc.
Note: See part (a) of the attached excel file for the statement of cash flows for the year 2020 for Ayayai Inc.
In the attached excel file, we have:
Increase in cash = $50,200
(b) Prepare the balance sheet as it would appear as of December 31, 2020.
Note: See part (b) of the attached excel file for the balance sheet as it would appear as of December 31, 2020.
In the attached excel file, we have:
Total Assets = Liabilities and Stockholders' Equity = $298,900
