common stock Haray Started the accounting period with $24,000 in both cash and Required a. Record the events in a horizontal statement model in the Cash Flow column, use OA to designate operating activity, IA for Investment activity, FA for financing activity, or NC for net change in cash. If the element is not affected by the event, leave the cell blank b. What is the balance of accounts receivable at the end of Year 12 c. What is the balance of accounts payable at the end of Year 17 d. What are the amounts of gross margin and net income for Year 1? e. Determine the amount of net cash flow from operating activities. Complete this question by entering your answers in the tabs below. BA Recto Record the events in a horontal statement model in the Cash Flow column, use O to designate operating activity, IA for investment activity. A formance the element is not affected by the event, leave the cell bank. (Not every call will require entry. Entarany decreases to account balance and the outdowe HANDY MERCHANDISING COWY NI 000 S Prov 25 HII Next > Required a. Record the events in a horizontal statement model. In the Cash Flow column, use OA to designate operating activity. IA for investment activity, FA for financing activity, or NC for net change in cash. If the element is not affected by the event, leave the blank b. What is the balance of accounts receivable at the end of Year 12 c. What is the balance of accounts payable at the end of Year 17 d. What are the amounts of gross margin and net income for Year 12 e. Determine the amount of net cash flow from operating activities. Complete this question by entering your answers in the tabs below. Reg A Reg B to E What is the balance of accounts receivable, accounts payable, amounts of gross margin, net income and net cash now from operating activities at the end of Year 17 (Indicate cash outnows with minus sign) 6. Accounts recolvable Accounts payable d. Gross margin Not income Net cash flow from operating activities CA Saved Help Save & E Che Dan Watson started a small merchandising business in Year 1. The business experienced the following events during its first year of operation. Assume that Watson uses the perpetual inventory system, 1. Acquired $26,000 cash from the issue of common stock. 2. Purchased Inventory for $20.800 cash 3. Sold inventory costing $18,900 for $31.500 cash. Required a. Record the events in a horizontal statement model in the Cash Flow column, use OA to designate operating activity, IA for Investment activity, FA for financing activity, or NC for net change in ceph. If the element is not affected by the event, leave the cell blank b. Prepare an income statement for Year 1 (use the multistep format). c. What is the amount of total assets at the end of the period? Complete this question by entering your answers in the tabs below. Required A Required Required c Record the events in a horizontal statement model in the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for activity, or NC for net change in cash. If the element is not affected by the event, leave the cell blank (Not every cell will require entry inter any dec account balances and cash outflows with a minus sign) Prev Next > 2
