Exercise 13-11A Recording unearned revenue and identifying its effect on financial statements LO 13-1 Raylan received a $68,500 cash advance payment on June 1. Year 1, for consulting services to be performed in the future. Services were to be provided for a one-year term beginning June 1, Year 1. Required a. & b. Record the June 1 cash receipt in T-accounts and the adjustment required as of December 31. Year 1. c. Show the preceding transaction and related adjustment in a horizontal statements model. d. Determine the amount of net income on the Year 1 income statement. What is the amount of net cash flow from operating activities for Year 12 e. What amount of liabilities would Raylan report on the Year 1 balance sheet? I Complete this question by entering your answers in the tabs below. Req A and B Reqc Req D Reg E Record the June 1 cash receipt in T-accounts and the adjustment required as of December 31, Year 1. (Do not round intermediate calculations. Round your answers to the nearest dollar amount.) Cash Uneamed Revenue Bog. Bal Beg Bal End. Bal End. Bal Service Revenue Beg Bal 2. & b. Record the June 1 cash receipt in T-accounts and the adjustment required as of December - Show the preceding transaction and related adjustment in a horizontal statements model. 9. Determine the amount of net income on the Year 1 income statement. What is the amount of net or Year 1? e. What amount of liabilities would Raylan report on the Year 1 balance sheet? Complete this question by entering your answers in the tabs below. Req A and B Reg C ReqD Reg E Record the June 1 cash receipt in T-accounts and the adjustment required as of December 31, Year 1. (C calculations. Round your answers to the nearest dollar amount.) Cash Unearned Revenue Beg Bal Beg Bal End. Bal End. Bal Service Revenue Beg. Bal End. Bal Reqc > & b. Record the June 1 cash receipt in T-accounts and the adjustment required as of December 31, Year 1. Show the preceding transaction and related adjustment in a horizontal statements model. Determine the amount of net income on the Year 1 income statement. What is the amount of net cash flow from or Year 1? - What amount of liabilities would Raylan report on the Year 1 balance sheet? Complete this question by entering your answers in the tabs below. Reg A and B Reg C Reg D Reg E Show the preceding transaction and related adjustment in a horizontal statements model. (In the Statement of Cash Flow activity, IA for investment activity, FA for financing activity, and NC for net change in cash. Not all cells in the "Statement leave cells blank if there is no corresponding input needed. Do not round intermediate calculations. Round your answers to decreases to account balances and cash outflows with a minus sign.) Balance Sheet RAYLAN COMPANY Effect of Transactions on Financial Statements Income Statement Stockholders' Revenue Expenses - Net Income Equity Date Assets Liabilities Statement of Cash Flows 6/1 12/31 Balance ng your answers in thet Req A and B Reqc Req Reg E Determine the amount of net income on the Year 1 income statem activities for Year 1? (Do not round intermediate calculations. Rou Revenue Expenses Net income Cash flows from operating activities: Cash received from revenue Net cash flow from operating activities Complete this question by entering your answers in the tabs below. Req A and B Reqc Req D Req E What amount of liabilities would Raylan report on the Year 1 balance sheet? (Do no your final answer to the nearest dollar amount.) Unearned revenue