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2 parts please answer! 111 eivable on the accounting equation and financial Dints eBook Holloway Company earned $6.600 of service revenue on account during Year
2 parts please answer!
111 eivable on the accounting equation and financial Dints eBook Holloway Company earned $6.600 of service revenue on account during Year 1. The company collected $5,610 cash from accounts receivable during Year 1 Required Based on this information alone, determine the following for Holloway Company, a. The balance of the accounts receivable that would be reported on the December 31 Year 1, balance sheet. b. The amount of net income that would be reported on the Year 1 income statement c. The amount of net cash flow from operating activities that would be reported on the Year 1 statement of cash flows. d. The amount of retained earnings that would be reported on the Year 1 balance sheet ferences Complete this question by entering your answers in the tabs below. Accounting Equation Reg A to D Based on this information alone, determine the following for Holloway Company. (Not all cells require input. Enter any decreases to account balances with a minus sign.) HOLLOWAY COMPANY Effect of Events on the Year 1 Accounting Equation Assets Liabilities Stockholders'Equity Event Cash Accounts Common Retained Reo trable Stock Earnings Earned revenue Collected accounts receivable Ending balance 0 01 - 0 0 + 01 - Accounting Equation Reg A to D > earnings that would be repor Complete this question by entering your answers in Accounting Equation Req A to D The balance of the accounts receivable that would be repor income that would be reported on the Year 1 income stater would be reported on the Year 1 statement of cash flows. T 1 balance sheet. a. Accounts receivable b. Net income c. Net cash flow from operating activities d. Retained earnings Step by Step Solution
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