Required information The following information applies to the questions displayed below.) Leach Incorporated experienced the following events for the first two years of its operations of 4 Year 1 1. Issued $29,000 of common stock for cash 2. Provided $98,900 of services on account. 3. Provided $55,000 of services and received cash 4. Collected $88.000 cash from accounts receivable. 5. Paid $57,000 of salaries expense for the year. 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 5 percent of the ending accounts receivable balance will be uncollectible. 7. Closed the revenue account 8. Closed the expense accounts: 1:07:52 Year 2 ces 1. Wrote off an uncollectible account for $1,600, 2. Provided $107.000 of services on account. 3. Provided $51,000 of services and collected cash 4. Collected $100,000 cash from accounts receivable. 5. Paid $84,000 of salaries expense for the year 6. Adjusted the accounts to reflect uncollectible accounts expense for the year, Leach estimates that 5 percent of the ending accounts receivable balance will be uncollectible 7. Closed the revenue account 8. Closed the expense accounts. d. Record the Year 2 events in general Journal form and post them to T-accounts. Prepare the income statement, statement of changes In stockholders' equity, balance sheet, and statement of cash flows for Year 2. What is the net realizable value of the accounts receivable at December 31, Year 2? Year 2 7 of 4 1. Wrote off an uncollectible account for $1,600 2. Provided $107.000 of services on account 3. Provided $51,000 of services and collected cash 4. Collected $100,000 cash from accounts receivable. 5. Paid $84,000 of salaries expense for the year. 6. Adjusted the accounts to reflect uncollectible accounts expense for the year, Leach estimates that 5 percent of the ending accounts receivable balance will be uncollectible. 7. Closed the revenue account. 8. Closed the expense accounts 07:37 d. Record the Year 2 events in general journal form and post them to T-accounts. Prepare the income statement statement of changes In stockholders' equity, balance sheet, and statement of cash flows for Year 2. What is the net realizable value of the accounts receivable at December 31. Year 22 DOK Complete this question by entering your answers in the tabs below. K Reg Di Reg D2 Reg D3 Reg D4 Reg DS Reg D6 Reg D ences Prepare the statement of changes in stockholders' equity for Year 2 LEACH INCORPORATED Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 2 Beginning common stock Plus Common stock issued Ending common stock 5 Beginning retained earnings Plus Not income Ending retained earnings $ 0 0 7 d. Record the Year 2 events in general journal form and post them 10 T-accounts. Prepare the income statement statement of changes in stockholders equity, balance sheet and statement of cash flows for Year 2. What is the net realizable value of the accounts receivable at December 31, Year 22 of 4 Complete this question by entering your answers in the tabs below. Reg Di Reg D2 Reg D3 Reg D4 Reg DS Reg D6 Reg D2 1.07.17 Prepare the balance sheet for Year 2. (Enter amounts to be deducted with a minus sign. Round your answers to the nearest whole dollar amounts K LEACH INCORPORATED Balance Sheet As of December 31, Year 2 Assets Cash Accounts receivable Less Allowance for doubtful accounts Total assets Liabilities Stockholders' equity Common stock Retained earnings 0 $ 0 Total stockholders equity Total inities and stockholders equity 0 0 S 7 d. Record the Year 2 events in general Journal form and post them to T-accounts. Prepare the income statement, statement of changes in stockholders' equity, balance sheet and statement of cash flows for Year 2. What is the net realizable value of the accounts receivable at December 31. Year 22 art 4 of 4 Complete this question by entering your answers in the tabs below. Reg D1 Reg D2 Reg 03 Reg 04 Reg DS Reads Reg D7 01:07:03 Prepare the statement of cash flows for Year 2. (Enter cash outflows with a minus sign) eBook LEACH INCORPORATED Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flow from operating activities AL Verences $ 0 Not cash flow from operating activities Cashflows from investing activities Cash flows from financing activities Net change in cash 0 Ending cash balance $ 0 Req D5 Reg D7 > 17 Due 10-4-21 i Saved H 1. Wrote off an uncollectible account for $1.600. 2. Provided $107.000 of services on account 3. Provided $51,000 of services and collected cash 4. Collected $100,000 cash from accounts receivable 5. Paid $84.000 of salarles expense for the year 6. Adjusted the accounts to reflect uncollectible accounts expense for the year Leach estimates that 5 percent of the ending accounts receivable balance will be uncollectible 7. Closed the revenue account 8. Closed the expense accounts. 3-50 d. Record the Year 2 events in general journal form and post them to 1-accounts. Prepare the income statement, statement of changes In stockholders'equity, balance sheet, and statement of cash flows for Year 2. 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. Reg DI Reg D2 Reg D3 Reg D4 Reg DS Reg DG Reg D What is the net realizable value of the accounts receivable at December 31, Year 27 (Round your answer to the nearest whole dollar amounts) Netreatzable value
