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Check my work The following events pertain to Super Cleaning Company: 1. Acquired $10,000 cash from the issue of common stock. 2. Provided $15,000 of
Check my work The following events pertain to Super Cleaning Company: 1. Acquired $10,000 cash from the issue of common stock. 2. Provided $15,000 of services on account. 3. Provided services for $5,000 cash. 4. Received $2,800 cash in advance for services to be performed in the future. 5. Collected $12,200 cash from the account receivable created in Event 2. 6. Paid $1,900 for cash expenses. 7. Performed $1,400 of the services agreed to in Event 4. 8. Incurred $3,600 of expenses on account. 9. Paid $4,800 cash in advance for one-year contract to rent office space. 0. Paid $2,800 cash on the account payable created in Event 8. 11. Paid a $1,500 cash dividend to the stockholders. 2. Recognized rent expense for nine months' use of office space acquired in Event 9. Required Show the effects of the events on the financial statements using the following horizontal statements model. In the Cash Flows column, use the letters OA to designate operating activity, IA for investing activity, FA for financing activity, and NC for net change in cash. If an account is not affected by the event, leave the cell blank. The first event is recorded as an example. (Do not round intermediate calculations. Enter any decreases to account balances and cash outflows with a minus sign. Not every cell will require entry.) SUPER CLEANING COMPANY Check my work event is recorded as an example. (Do not round intermediate calculations. Enter any decreases to account balances and cash outflows with a minus sign. Not every cell will require entry.) SUPER CLEANING COMPANY Effect of Events on the Financial Statements Event No. Assets Liabilities Stockholders' Equity Cash Accounts Receivable Prepaid Rent Accounts Unearned Common Payable Revenue Stock Retained Earnings Reven 1. 10,000+ + 10,000 2. + + 3. + 4. 5. 6. 7. 8. 9. 10. 11. 12. Bal. equit thuy. SUPER CLEANING COMPANY ect of Events on the Financial Statements Stockholders' Equity + Income Statement nearned Common Retained Revenue Expenses = Net Income evenue Stock Earnings 10,000+ Statement of Cash Flows 10,000 FA
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