Question
he following events pertain to Super Cleaning Company: Acquired $15,900 cash from the issue of common stock. Provided $13,900 of services on account. Provided services
he following events pertain to Super Cleaning Company:
Acquired $15,900 cash from the issue of common stock.
Provided $13,900 of services on account.
Provided services for $4,900 cash.
Received $3,300 cash in advance for services to be performed in the future.
Collected $9,900 cash from the account receivable created in Event 2.
Paid $5,900 for cash expenses.
Performed $1,650 of the services agreed to in Event 4.
Incurred $2,400 of expenses on account.
Paid $1,550 cash in advance for one-year contract to rent office space.
Paid $2,050 cash on the account payable created in Event 8.
Paid a $2,400 cash dividend to the stockholders.
Recognized rent expense for nine months use of office space acquired in Event 9.
Required
Show the effects of the events on the financial statements using the following horizontal statements model. In the Cash Flows column, use the letters OA to designate operating activity, IA for investing activity, FA for financing activity, and NC for net change in cash. If an account is not affected by the event, leave the cell blank. The first event is recorded as an example. (Do not round intermediate calculations. Enter any decreases to account balances and cash outflows with a minus sign. Not every cell will require entry.)
6. Paid $5,900 for cash expenses. 7. Performed $1,650 of the services agreed to in Event 4. 8. Incurred $2,400 of expenses on account. 9. Paid $1,550 cash in advance for one-year contract to rent office space. 10. Paid $2,050 cash on the account payable created in Event 8 . 11. Paid a $2,400 cash dividend to the stockholders. 12. Recognized rent expense for nine months' use of office space acquired in Event 9. Required Show the effects of the events on the financial statements using the following horizontal statements model. In the Cash Flows column, use the letters OA to designate operating activity, IA for investing activity, FA for financing activity, and NC for net change in cash. If an account is not affected by the event, leave the cell blank. The first event is recorded as an example. (Do not round intermediate calculations. Enter any decreases to account balances and cash outflows with a minus sign. Not every cell will require entry.)Step by Step Solution
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