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Clark Bell started a personal financial planning business when he accepted $ 6 9 , 0 0 0 cash as advance payment for managing the
Clark Bell started a personal financial planning business when he accepted $ cash as advance payment for managing the financial assets of a large estate. Bell agreed to manage the estate for a oneyear period beginning June Year Required: a Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. More specifically, record the amounts of the events into the model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities OA investing activities IA or financing activities FA b How much revenue would Bell recognize on the Year income statement? c What is the amount of cash flow from operating activities in Year Complete this question by entering your answers in the tabs below. Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. More specifically, record the amounts of the events into the model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities OA investing activities IA or financing activities FA Note: Do not round intermediate calculations. Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input is needed. Show less A tableBELL PERSONAL FINANCIAL PLANNINGHorizontal Statements Model for Year EventAssets,Liabilities,tabletableStockholdersEquityIncome Statement, tableStatement ofCash FlowsCash,tableUnearnedRevenuetableRetainedEarningsRevenue,Net Income,, Advance payment,, Revenue eamed,,Totals
Clark Bell started a personal financial planning business when he accepted $ cash as advance payment for managing the financial assets of a large estate. Bell agreed to manage the estate for a oneyear period beginning June Year
Required:
a Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. More specifically, record the amounts of the events into the model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities OA investing activities IA or financing activities FA
b How much revenue would Bell recognize on the Year income statement?
c What is the amount of cash flow from operating activities in Year
Complete this question by entering your answers in the tabs below.
Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. More specifically, record the amounts of the events into the model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities OA investing activities IA or financing activities FA
Note: Do not round intermediate calculations. Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input is needed.
Show less A
tableBELL PERSONAL FINANCIAL PLANNINGHorizontal Statements Model for Year EventAssets,Liabilities,tabletableStockholdersEquityIncome Statement,
tableStatement ofCash FlowsCash,tableUnearnedRevenuetableRetainedEarningsRevenue,Net Income,, Advance payment,, Revenue eamed,,Totals
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