Check m The following information applies to the questions displayed below.) Leach Inc. experienced the following events for the first two years of its operations: 2018: 1. Issued $10,000 of common stock for cash. 2. Provided $80,000 of services on account. 3. Provided $33,000 of services and received cash. 4. Collected $47,000 cash from accounts receivable. 5. Paid $20,000 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. 2019: 1. Wrote off an uncollectible account for $740. 2. Provided $100,000 of services on account. 3. Provided $20,000 of services and collected cash. 4. Collected $82,000 cash from accounts receivable. 5. Paid $24,000 of salaries expense for the year. 6. Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 7 percent of the ending accounts receivable balance will be uncollectible. d-1. Organize the transaction data in accounts under an accounting equation. d-2. Prepare an income statement for 2019. d-3. Prepare the statement of changes in stockholders' equity for 2019. d-4. Prepare the balance sheet for 2019. d-5. Prepare the statement of cash flows for 2019. d-6. What is the net realizable value of the accounts receivable at December 31, 2019? Req D1 Reg D2 Reg D3 Reg D4 Reg DS Req D6 Organize the transaction data in accounts under an accounting equation. (Enter any decreases to account balances with a minus sign. Titles for Retained Earnings, leave the cell blank.) Assets Accounts Recevable LEACH INC. Accounting Equation for the Year 2019 Equity - Llabilities + Common Retained - Allowance stock Earnings Event Cash Accounting Titles for Retained Earnings Bal. TIL Bal. Reg Di Req D2 Req D3 Reg D4 Reg D5 Req D6 Prepare an income statement for 2019. (Round your intermediate calculations and final answers to the nearest whole dollar.) LEACH INC Income Statement For the Year Ended December 31, 2019 Operating expenses Total operating expenses Reg D1 Reg D2 Req D3 Req D4 Reg D5 Reg D6 Prepare the statement of changes in stockholders' equity for 2019. (Round your intermediate calculations and final answers to the nearest whole dollar.) LEACH INC. Statement of Changes in Stockholders' Equity For the Year Ended December 31, 2019 Beginning common stock Ending common stock Beginning retained earnings Ending retained earnings Total stockholders' equity Prepare the balance sheet for 2019. (Round your intermediate calculations and final answers to the nearest whole dollar.) LEACH INC. Balance Sheet As of December 31, 2019 Assets Total assets Liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity Prepare the statement of cash flows for 2019. (Round your intermediate calculations and final answers to the nearest whole dollar. Amounts to be deducted should be indicated with a minus sign.) LEACH INC. Statement of Cash Flows For the Year Ended December 31, 2019 Cash flows from operating activities Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Not change in cash Ending cash balance Complete this question by entering your answers in the tabs below. Reg Di Reg D2 Reg D3 Reg D4 Reg D5 Reg D6 What is the net realizable value of the accounts receivable at December 31, 2019? (Round your intermediate calculations and final answer to the nearest whole dollar.) Not realizable value
