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2,000 cash from the issue of common stock Cordell Inc, experienced the following events in 2018, its first year of operation: 1. Received $52,000 cash

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2,000 cash from the issue of common stock Cordell Inc, experienced the following events in 2018, its first year of operation: 1. Received $52,000 cash from the issue of common stock. 2. Performed services on account for $80,000 3. Pald a $5,200 cash dividend to the stockholders. 4. Collected $58,000 of the accounts receivable. 5. Paid $52,000 cash for other operating expenses. 6. Performed services for $16,000 cash. 7. Recognized $2,200 of accrued utilities expense at the end of the year. $5,200 cash dividccount for $80,000 mon stock dividend to the stockholders services for $16,000 cash. ccrued utilities expense at the end om com the Required a. & c. Identify the events that result in revenue or expense recognition and those which affect the statement of cash flows. In the Statement of Cash Flows column, use OA to designate operating activity. FA for financing activity, or IA for investing activity. If the element is not affected by the event, leave the cell blank. b. Based on your response to Requirement a, determine the amount of net income reported on the 2018 income statement d. Based on your response to Requirement c, determine the amount of cash flow from operating activities reported on the 2018 statement of cash flows. e. What is the before- and after-closing balance in the service revenue account? f. What is the balance of the retained earnings account that appears on the 2018 balance sheet? Complete this question by entering your answers in the tabs below. Reg A and C Reg B and D to F Identify the events that result in revenue or expense recognition and those which affect the statement of cash flows. In the Statement of Cash Flows column, use OA to designate operating activity, FA for financing activity, or IA for investing activity If the element is not affected by the event, leave the cell blank. (Enter any decreases to account balances and cash outflows with a minus sign. Not all cells will require entry) Event Revenue Expense Statement of Cash Flows We berore- and after-closing balance in the service revenue account? f. What is the balance of the retained earnings account that appears on the 2018 balance sheet? peldung a Complete this question by entering your answers in the tabs below. Req A and C Reg B and D to Identify the events that result in revenue or expense recognition and those which affect the statement of Statement of Cash Flows column, use OA to designate operating activity, FA for financing activity, or IA fol If the element is not affected by the event, leave the cell blank. (Enter any decreases to account balances with a minus sign. Not all cells will require entry.) Event Revenue Expense Statement of Cash Flows ReqB and D to F > C HIQUID We verore- and after-closing balance in the service revenue account? f. What is the balance of the retained earnings account that appears on the 2018 balang Complete this question by entering your answers in the tabs below. Req A and c Req B and D to F Based on your response to Requirement a and c, determine the amount of net income, cash flos before- and after-closing balance in the service revenue account and balance of the Retained Ea the 2018. Net income d. Net cash flow from operating activities Before-closing balance After-closing balance f. Balance of retained earnings

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