1. Acquired $46,000 cash from the issue of common stock 2. Paid $13,100 cash in advance for rent. The payment was for the period April 1, Year 1 to March 31, Year 2 3. Performed services for customers on account for $94.000. 4. Incurred operating expenses on account of $40,500. 5. Collected $72,000 cash from accounts receivable. 6. Paid $32,000 cash for salary expense 7. Paid $32,400 cash as a partial payment on accounts payable. Adjusting Entries 8. Made the adjusting entry for the expired rent. (See Event 2.) 9. Recorded $4,600 of accrued salaries at the end of Year 1 Events for Year 2 1. Paid $4,600 cash for the salaries accrued at the end of the prior accounting period. 2. Performed services for cash of $43,000. 3. Purchased $3,900 of supplies on account. 4. Paid $13,800 cash in advance for rent. The payment was for one year beginning April 1, Year 2 5. Performed services for customers on account for $110,000. 6. Incurred operating expenses on account of $52,500 7. Collected $100,000 cash from accounts receivable. 8. Paid $50,000 cash as a partial payment on accounts payable. 9. Paid $32,600 cash for salary expense. 10. Poid a $14,000 cash dividend to stockholders. Adjusting Entries 11. Made the adjusting entry for the expired rent (Hint part of the rent was pold in Year 1.) 12. Recorded supplies expense. A physical count showed that $450 of supplies were still on hand g. Repeat parts a through ffor Year 2 g. Repeat parts a through ffor Year 2. Complete this question by entering your answers in the tabs below. General Journal T Accounts Trial Balance Income Stmt Stmt of Changes Balance Sheet Stmnt of Cash Flows Closing Entries Prepare a balance sheet for Year 2. COLTON ENTERPRISES Balance Sheet As of December 31, Year 2 Assets Total assets $ 0 Liabilities Total liabilities Stockholders' equity 0 Total stockholders' equity Total liabilities and stockholders' equity D $ 0 g. Repeat parts a through ffor Year 2 Complete this question by entering your answers in the tabs below. General Journal T Accounts Trial Balance Income Stmt Stmt of Changes Balance Sheet Stmt of Cash Flows Uw Prepare a balance sheet for Year 2. (Enter any decreases to account balances and cash outf COLTON ENTERPRISES Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flows from operating activities: A Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities: 0 Net cash flow from financing activities Net change in cash 0 Ending cash balance $ 0 Balance Sheet Closing Entries >