Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

17 The following events pertain to Super Cleaning Company 1. Acuired $15.500 con from the issue of common stock 2. Provided $13,500 of services on

image text in transcribed
image text in transcribed
17 The following events pertain to Super Cleaning Company 1. Acuired $15.500 con from the issue of common stock 2. Provided $13,500 of services on account 3. Provided services for $4.500 cash. 4. Received $2.900 cash in advance for services to be performed in the future, 5 Collected $9.500 cash from the account receivable created in Event 6. Paid $5.500 for cash expenses 7. Performed $1,450 of the services agreed to in Event 4 8. Incurred $2.000 of expenses on account 9. Paid $1350 cash in advance for one year contract to rent office space 10. Paid $1650 cash on the account payable created in Event 8. 11. Paid $2,000 cash dividend to the stockholders 12. Recognized rent expense for nine months' use of office space acquired in Ewent 9. Required Show the effects of the events on the financial statements using a horizontal statements model like the foliowing one in the Statement of Cash Flows column, use the letters A to designate operating activity. IA for investing activity. FA for financing activity, and NC for not change in cash The first event is recorded as an example. (Do not round Intermediate calculation. Enter any decreases to account balances and cash outflows with a minus sign. Not all cells require Input) SUPER CLEANING COMPANY Ehef of the Statement Income Daten EeNet Income Eva Na mante Cash Flow Assets Account Revale Ured Rere Account Payable Cash 15.500 Com Dach 15.500 R Lamin 15.000 FA 1 2 OW 24 SBI DU S & 7 2 3 5 6 8 - W E R T Y P S F. G H J of Cash Flows column, use the letters to designate operating 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 Erect of Events on the Financial Statements Balance Sheet Labieties Stockholders' Equity Mounts Unnamed Comman Retained Payable Revenue Stock Eaming 15,500 Income Statement Expenses Net Income Revenue Statement of Cath Flowe Event No ARE MOS Ratlab Cash Prepaid Rent 15.500 FA 1 1.500 2 2 - 5 7 9 . 10 11 12 al

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Connect For Financial Accounting Fundamentals

Authors: Author

8th Edition

126411169X, 9781264111695

More Books

Students also viewed these Accounting questions

Question

Be able to cite the advantages of arbitration

Answered: 1 week ago