Doyle Company issued $300,000 of 10-year, 6 percent bonds on January 1, Year 2. The bonds were issued at face value. Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $56,500 of cash revenue, which was collected on December 31 of each year, beginning December 31, Year 2. Exercise 10-6A (Algo) Part a Required a. Organize the transaction data in accounts under the accounting equation for Year 2 and Year 3. Note: Enter any decreases to account balances with a minus sign. Not all cells in the "Account Titles for Retained Earnings" column may require an input-leave cells blank if there is no corresponding input needed. DOYLE COMPANY Effect of Events on the Accounting Equation Assets Event Cash Land Year 2 and Year 3 Liabilities . Bonds Payable Stockholders' Equity Retained Earnings Account Titles for Retained Earnings Required information equired Organize the transaction data in accounts under the accounting equation for Year 2 and Year 3. ote: Enter any decreases to account balances with a minus sign. Not all cells in the "Account Titles for Retained Earnings" olumn may require an input - leave cells blank if there is no corresponding input needed. DOYLE COMPANY Effect of Events on the Accounting Equation Year 2 and Year 3 Assets Event Cash + Land Year 2 1/1 1/1 12/31 12/31 Balance Year 3 Beginning balance 12/31 12/31 Ending balance + Stockholders' Liabilities Bonds Payable + Equity Retained Earnings Account Titles for Retained Earnings + + Required information Exercise 10-6A (Algo) Two accounting cycles for bonds issued at face value LO 10-3 [The following information applies to the questions displayed below.] Doyle Company issued $300,000 of 10-year, 6 percent bonds on January 1, Year 2. The bonds were issued at face value. Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $56,500 of cash revenue, which was collected on December 31 of each year, beginning December 31, Year 2. Exercise 10-6A (Algo) Part b b. Prepare the income statement, balance sheet, and statement of cash flows for Year 2 and Year 3. Complete this question by entering your answers in the tabs below. Req B Income Req B Balance Statement of Statement Sheet Req B Cash Flows Prepare the income statement for Year 2 and Year 3. DOYLE COMPANY Income Statements S < Prev 5 of 10 Next > Required information Req B Income Req B Balance Statement Sheet Req B Statement of Cash Flows Prepare the income statement for Year 2 and Year 3. DOYLE COMPANY Income Statements For the Year Ended December 31 Year 2 Year 3 Req B Income Statement Req B Balance Sheet> Required information Prepare the balance sheet for Year 2 and Year 3. DOYLE COMPANY Balance Sheet As of December 31 Assets Total assets Liabilities Total liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity Year 2 Year 3. 9 Prev 5 of 10 Next > Required information DOYLE COMPANY Statement of Cash Flows For the Year Ended December 31 Cash flows from operating activities Net cash flow from operating activities Cash flows from investing activities Net cash flows from investing activities Cash flows from financing activities. Net cash flows from financing activities Net change in cash Year 2 Year 3 Ending cash balance