Edmondi_ \FAB_1_CHO_Working Papers (1) - Protected ViewSaved. Layout References Mailings Review View Help am the Internet con contain viruses. Unless you need to edit it's safe to stay in Protected View Enable Editing Exercise 2-5B Recording accounts receivable and other events in a horizontal financial LO 2-1, 2-2, 2-4 The Woodstock Shop experienced the following events during his first year of operations. Year 1: 1. Acquired 538.000 cathy common stock 2 Farned 10000 r e count. 3. Pald $25.000 cash for operating expenses Borrowed $15.000 cash from a bank Cected $25.000 othe r P 2000 Required Usa hormonal financiaments made to show b each e s the balance sheet income ment, and statement of cash flow. More specific record them e of the events into the model Ale, in the State of Cus c ythe ch e ating activities OA insting activities Alancing the Thet h an cumple Ince Statement of Cash Flows Rew Exp. Netine 38000FA EXERCISE 2-50 (cont.) Pre Backspace Edmonds_1F48_1 CH2_Working Papers (1) - Protected View - Saved Layout References Mailings Review View Help the internet can contain viruses. Unless you need to edit it's safer to stay in Protected View Enable Editing The Woodstock Shop Horizontal Statements Model for Year 1 Income Statement Revenue Expense - Net Inc. Statement of Cash Flows Balance Sheet Liah. Stockholders' Equity Notes Common Retained - Payable - Stock - Earnings NA 18000 NA TODO FA 51.000 5000 - 151000 8000 + 37000 30,000 25,000 EXERCISE 2-58 (cont.) Pris Would the accounts receivable count appear in the set, bles, or stockholders' qully tion of the December 31, Year 1, balance sheet? c. Determine the balance of the accounts receivable account that would appear on the December 31, Year 1, balance sheet. Determine the amount of net income that would appear in the Year I Income statement e. Determine the amount of the cash flow from operating activities that would appear in the Year 1 statement of cash flows. 1. Explain why the amount determined in Requirement d differs from the amount determined in Requiremente. suo