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1. Acquired $16,200 cash from the Issue of common stock. 2. Provided $14,200 of services on account. 3. Provided services for $5,200 cash. 4.
1. Acquired $16,200 cash from the Issue of common stock. 2. Provided $14,200 of services on account. 3. Provided services for $5,200 cash. 4. Received $3,600 cash in advance for services to be performed in the future. 5. Collected $10,200 cash from the account receivable created in Event 2. 6. Paid $6,200 for cash expenses. 7. Performed $1,800 of the services agreed to in Event 4. 8. Incurred $2,700 of expenses on account. 9. Paid $1,700 cash in advance for one-year contract to rent office space. 10. Paid $2,350 cash on the account payable created In Event 8. 11. Paid a $2,700 cash dividend to the stockholders. 12. Recognized rent expense for nine months' use of office space acquired in Event 9. Required Show the effects of the events on the financial statements using a horizontal statements model like the following one. In the Statement of Cash Flows column, use the letters OA to designate operating activity, IA for Investing activity, FA for financing activity, and NC for net change in cash. The first event is recorded as an example. (Do not round Intermediate calculations. Enter any decreases to account balances and cash outflows with a minus sign. Not all cells require Input.) SUPER CLEANING COMPANY Event No. Cash 1. 16,200+ 2. + 3. 5,200+ + 4. 3,600 + + 5. 10,200+ (10,200) + 6. (6,200) + 7. + + = 8. + 9. (1,700) + + 1,700 = 10. (2,350) + 11. (2,700) + = 12. + + (1,275) = Bal. 22,250 + 4,000+ 425= + Effect of Events on the Financial Statements Balance Sheet Income Statement Assets Accounts Liabilities Stockholders' Equity Revenue Expenses Net Income Statement of Cash Flows Receivable Prepaid Rent Accounts Payable + Unearned Revenue Common Stock Retained Earnings + 16,200+ 14,200+ + 14,200 + 5,200 16,200 FA 14,200 5,200 5,200 OA + 3,600 + + + = 3,600 OA 10,200 OA 6,200= (1,800) 1,800 2,700+ 2,700 = (6,200) 1,800 (2,700) (6,200) OA + (1,700) OA (2,350) + (2,350) OA + (2,700) FA + 1,275= (1,275) 350+ 1,800+ 16,200+ 21,200 0 10,175 = 11,025 22,250
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