1.Excepted $36,000 on April 1, dear one, as a retainer for services to be performed evenly over the next 12 months

2.Performed legal services for cash of $54,000

3.Purchased $2800 of office supplies on account

4.Paid $2400 of that amount due on accounts payable

5.Paid a cash dividend to the stockholders of $5,000

6.Paid cash for operating expenses of $31,000

7.Determined that at the end of that accounting. $200 of office supplies remained on hand

8. And December 31, dear one, recognize the revenue that had been earned for services performed in accordance with transaction 1

Check my work Required Show the effects of the events on the financial statements using a horizontal statements model like the following one. In the Statemert of Cash Flows column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity, NC for net change in cash and NA to indicate accounts not affected by the event. The first event has been recorded as an example.( round Intermediate calculations. Enter any decreases to account balances and cash outflows with a minus sign.) Effect of Transactions on the Financial Statoments for Year 1 Balance Sheet Income Stalement Stockholders Equity Transaction Assets Liabilities RevenueExpenseNet Income Statement of Cash CashSu Supplies Accounts 36,000 36,000+ 36,000 OA 2. 3. 5. 6 8. Totals K Prey Sor7 Next> 8:45