Alcorn Service Company was formed on January 1, 2018. Events Affecting the 2018 Accounting Period 1. Acquired $74,000 cash from the issue of common stock. 2. Purchased $4,000 of supplies on account. 3. Purchased land that cost $46,000 cash. 4. Paid $4,000 cash to settle accounts payable created in Event 2 5. Recognized revenue on account of $70,000. 6. Paid $35.000 cash for other operating expenses. 7. Collected $52.000 cash from accounts receivable. Information for 2018 Adjusting Entries 8. Recognized accrued salaries of $4,600 on December 31, 2018 9. Had $1.600 of supplies on hand at the end of the accounting period. Events Affecting the 2019 Accounting Period 1. Acquired $34 000 cash from the issue of common stock 2. Paid $4600 cash to settle the salarles payable obligation 3. Pald $7.800 cash in advance to ease office space 4. Sold the land that cost $4.000 541000 cash 5. Redevec 59.000 cash in advance for services to be performed in the future Saved Events Affecting the 2019 Accounting Period 1. Acquired $34,000 cash from the issue of common stock 2. Paid $4,600 cash to settle the salaries payable obligation 3. Paid $7,800 cash in advance to lease office space 4. Sold the land that cost $46,000 for $46,000 cash. 5. Received $9.000 cash in advance for services to be performed in the futre. 6. Purchased $2.400 of supplies on account during the year. 7. Provided services on account of $46,000. 8. Collected $47.000 cash from accounts receivable. 9. Paid a cash dividend of $6,000 to the stockholders. 10. Paid other operating expenses of $33,500. Information for 2019 Adjusting Entries 11. The advance payment for rental of the office space (see Event 3) was made on March 1 for a one-year term. 12. The cash advance for services to be provided in the future was collected on October 1 (see Event 5). The one-year contract started on October 1 13. Had $1,700 of supplies remaining on hand at the end of the period. 14. Recognized accrued salaries of $5.300 at the end of the accounting period. 15. Recognized $1.800 of accrued interest revenue. Saved Help Sex Required information under the appropriate general ledger account headings of the accounting equation. (Do not round intermediate calculations. Enter any decre sign.) Assets ALCORN SERVICE COMPANY Accounting Equation for 2018 + - Prepaid Prepaid Accounts Rent Payable Type of Event Event Accounts Cash Liabilities Salaries Payable Supplies Receivable Stockholders' Equity Common Retained Stock Earnings Unearned Revenue 2. Acc Equ 2013 > Pray 1 of 1 Ned Search Saved Help Save & Exit Check Required information Recor ALCORN SERVICE COMPANY Accounting Equation for 2019 Assets Accounts Prepaid Interest Receivable apps Rent Receivable Type of Event Event - Liabilities Accounts Salaries PayablePayable Unearned Revenue Stockholders' Equity Common Retained Stock Earnings Bal M Prev 1 of 1 Next De O * search hp