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ALL PHOTOS ARE ONE QUESTION. please help me solve the ones in RED, green are correct. I ALSO NEED WHATEVER IS MISSING!!! what is missing
ALL PHOTOS ARE ONE QUESTION. please help me solve the ones in RED, green are correct. I ALSO NEED WHATEVER IS MISSING!!! what is missing and in the red please. IF ITS RIGHT ILL LEAVE A GOOD RATING!
Required information Exercise 7-7A (Algo) Effect of recognizing uncollectible accounts on the financial statements: Percent of receivables allowance method LO 7-2 [The following information applies to the questions displayed below] Leach Incorporated experienced the following events for the first two years of its operations: Year 1: 1. Issued $10,000 of common stock for cash. 2. Provided $70,000 of services on account. 3. Provided $35,000 of services and recelved cash. 4. Collected $35,000 cash from accounts receivable. 5. Paid $18,000 of salaries expense for the year. 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 7 percent of the ending accounts receivable balance will be uncollectible. Year 2. 1. Wrote off an uncoliectible account for $2,650. 2. Provided $90,000 of services on account. 3. Provided $30,000 of services and collected cash. 4. Collected $72,000 cash from accounts receivable. 5. Paid $26,000 of salarles expense for the year. 6. Adjusted the accounts to reflect uncollectible accounts expense for the year. teach estimates that 7 percent of the ending accounts recelvable balance will be uncollectible. Complete this question by entering your answers in the tabs below. Organize the transaction data in accounts under an accounting equation for Year 2. Note: Enter any decreases to accounk baiances with a minus sign. Not all celis require input: Round your intermediate calculations and floal answer to the nearest whole doHlar. Complete this question by entering your answers in the tabs below. Prepare an income statement for Year 2. Note: Round your Intermediate calculations and final answers to the nearest whole dollar: d-6. What is the net realizable value of the accounts receivable at December 31 , Year 2 ? Complete this question by entering your answers in the tabs below. Prepare the statement of changes in stockholders' equity for Year 2. Note: Round your intermediate calculations and final answers to the nearest whole dollar. -6. What is the net realizable value of the accounts receivable at December 31 , Year 2 ? Complete this question by entering your answers in the tabs below. Prepare the balance sheet for Year 2. Note: Round your intermediate calculations and final answers to the nearest whole dollar. Prepare the statement of cash flows for Year 2. Note: Amounts to be deducted and cash outflows should be indicated with a minus sign. 6. Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 7 percent of th ending accounts receivable balance will be uncollectible. Exercise 7-7A (Algo) Part d d-1. Organize the transaction data in accounts under an accounting equation for Year 2. d-2. Prepare an income statement for Year 2. d-3. Prepare the statement of changes in stockholders' equity for Year 2. d-4. Prepare the balance sheet for Year 2. d-5. Prepare the statement of cash flows for Year 2. d-6. What is the net realizable value of the accounts receivable at December 31, Year 2? Complete this question by entering your answers in the tabs below. What is the net realizable value of the accounts receivable at December 31 , Year 2? Note: Round your intermediate calculations and fnal answer to the nearest whole dollar Step by Step Solution
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