Events Affecting the 2019 Accounting Period Acquired $29,000 cash from the issue of common stock Paid $4,100 cash to settle the salaries payable obligation Paid $6,300 cash in advance to lease office space Sold the land that cost $36,000 for $36,000 cash Received $7,500 cash in advance for services to be performed in the future Purchased $1,900 of supplies on account during the year Provided services on account of $41,000 Collected $42,000 cash from accounts receivable Paid a cash dividend of $8,000 to the stockholders Paid other operating expenses of $28,500 Information for 2019 Adjusting Entries The advance payment for rental of the office space (see Event 3) was made on March 1 for a one year term The cash advance for services to be provided in the future was collected on October 1 (see Event 5) The one year contract started on October 1 Had $1,200 of supplies remaining on hand at the end of the period Recognized accrued salaries of $4,800 at the end of the accounting period Recognized $1,300 of accrued interest revenue Answer is not complete Complete this question by entering your answers in the tabs below Acc Equ 2019 Identify each event affecting the 2018 accounting periods as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE) Record the effects of each event under the appropriate general ledger account headings of the accounting equation (Do not round intermediate calculations Enter any decreases to account balances with a minus sign ) ALCORN SERVICE COMPANY Accounting Equation for 2019 Event Type of Event Assets Liabilities Stockholders Equity Cash Accounts Receivable Supplies Prepaid Rent Land Interest Receivable Accounts Payable Salaries Payable Unearned Revenue Common Stock Retained Earnings Bal 47,000selected answer correct 13,000selected answer correct 1,100selected answer correct 0selected answer correct 36,000selected answer correct 0selected answer correct 0selected answer correct 4,100selected answer correct 0selected answer correct 69,000selected answer correct 24,000selected answer correct 1 ASselected answer correct 29,000selected answer correct not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted 29,000selected answer correct not attempted 2 AUselected answer correct (4,100)selected answer correct not attempted not attempted not attempted not attempted not attempted not attempted (4,100)selected answer correct not attempted not attempted not attempted 3 AEselected answer correct (6,300)selected answer correct not attempted not attempted 6,300selected answer correct not attempted not attempted not attempted not attempted not attempted not attempted not attempted 4 AEselected answer correct 36,000selected answer correct not attempted not attempted not attempted (36,000)selected answer correct not attempted not attempted not attempted not attempted not attempted not attempted 5 ASselected answer correct 7,500selected answer correct not attempted not attempted not attempted not attempted not attempted not attempted not attempted 7,500selected answer correct not attempted not attempted 6 ASselected answer correct not attempted not attempted 1,900selected answer correct not attempted not attempted not attempted 1,900selected answer correct not attempted not attempted not attempted not attempted 7 ASselected answer correct not attempted 41,000selected answer correct not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted 41,000selected answer correct 8 AEselected answer correct 42,000selected answer correct (42,000)selected answer correct not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted 9 AUselected answer correct (8,000)selected answer correct not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted (8,000)selected answer correct 10 AUselected answer correct (28,500)selected answer correct not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted (28,500)selected answer correct 11 AUselected answer correct not attempted not attempted not attempted (6,300)selected answer incorrect not attempted not attempted not attempted not attempted not attempted not attempted (6,300)selected answer incorrect 12 CEselected answer correct not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted 7,500selected answer incorrect not attempted (7,500)selected answer incorrect 13 AUselected answer correct not attempted not attempted (1,800)selected answer correct not attempted not attempted not attempted not attempted not attempted not attempted not attempted (1,800)selected answer correct 14 CEselected answer correct not attempted not attempted not attempted not attempted not attempted not attempted not attempted 4,800selected answer correct not attempted not attempted (4,800)selected answer correct 15 ASselected answer correct not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted 1,300selected answer correct Totals 114,600 12,000 1,200 0 0 0 1,900 4,800 15,000 98,000 9,400

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Events Affecting the 2019 Accounting Period Acquired $29,000 cash from the issue of common stock. Paid $4,100 cash to settle the salaries payable obligation. Paid

Events Affecting the 2019 Accounting Period

Acquired $29,000 cash from the issue of common stock.
Paid $4,100 cash to settle the salaries payable obligation.
Paid $6,300 cash in advance to lease office space.
Sold the land that cost $36,000 for $36,000 cash.
Received $7,500 cash in advance for services to be performed in the future.
Purchased $1,900 of supplies on account during the year.
Provided services on account of $41,000.
Collected $42,000 cash from accounts receivable.
Paid a cash dividend of $8,000 to the stockholders.
Paid other operating expenses of $28,500.

Information for 2019 Adjusting Entries

The advance payment for rental of the office space (see Event 3) was made on March 1 for a one-year term.
The cash advance for services to be provided in the future was collected on October 1 (see Event 5). The one-year contract started on October 1.
Had $1,200 of supplies remaining on hand at the end of the period.
Recognized accrued salaries of $4,800 at the end of the accounting period.
Recognized $1,300 of accrued interest revenue.

Answer is not complete.

Complete this question by entering your answers in the tabs below.

Acc Equ 2019

Identify each event affecting the 2018 accounting periods as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE). Record the effects of each event under the appropriate general ledger account headings of the accounting equation. (Do not round intermediate calculations. Enter any decreases to account balances with a minus sign.)

ALCORN SERVICE COMPANY

Accounting Equation for 2019

Event

Type of Event

Assets

Liabilities

Stockholders Equity

Cash

Accounts Receivable

Supplies

Prepaid Rent

Land

Interest Receivable

Accounts Payable

Salaries Payable

Unearned Revenue

Common Stock

Retained Earnings

Bal.

47,000selected answer correct

13,000selected answer correct

1,100selected answer correct

0selected answer correct

36,000selected answer correct

0selected answer correct

4,100selected answer correct

0selected answer correct

69,000selected answer correct

24,000selected answer correct

ASselected answer correct

29,000selected answer correct

not attempted

29,000selected answer correct

not attempted

AUselected answer correct

(4,100)selected answer correct

not attempted

(4,100)selected answer correct

not attempted

AEselected answer correct

(6,300)selected answer correct

not attempted

6,300selected answer correct

not attempted

AEselected answer correct

36,000selected answer correct

not attempted

(36,000)selected answer correct

not attempted

ASselected answer correct

7,500selected answer correct

not attempted

7,500selected answer correct

not attempted

ASselected answer correct

not attempted

1,900selected answer correct

not attempted

1,900selected answer correct

not attempted

ASselected answer correct

not attempted

41,000selected answer correct

not attempted

41,000selected answer correct

AEselected answer correct

42,000selected answer correct

(42,000)selected answer correct

not attempted

AUselected answer correct

(8,000)selected answer correct

not attempted

(8,000)selected answer correct

10.

AUselected answer correct

(28,500)selected answer correct

not attempted

(28,500)selected answer correct

11.

AUselected answer correct

not attempted

(6,300)selected answer incorrect

not attempted

(6,300)selected answer incorrect

12.

CEselected answer correct

not attempted

7,500selected answer incorrect

not attempted

(7,500)selected answer incorrect

13.

AUselected answer correct

not attempted

(1,800)selected answer correct

not attempted

(1,800)selected answer correct

14.

CEselected answer correct

not attempted

4,800selected answer correct

not attempted

(4,800)selected answer correct

15.

ASselected answer correct

not attempted

1,300selected answer correct

Totals

114,600

12,000

1,200

1,900

4,800

15,000

98,000

9,400

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