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Hello can I get some help filling this out? i also need answers to questions: B C and D Cowboy Ice Cream (CIC) had the

Hello can I get some help filling this out? i also need answers to questions: B C and D image text in transcribed
image text in transcribed
Cowboy Ice Cream (CIC) had the following events in the Year 1 fiscal year. 1. The company started when it acquired $17,000 cash by issuing common stock, 2. Purchased a new cooktop that cost $13,700 cash 3. Earned $23,600 In cash revenue. 4. Pald $10,400 cash for salaries expense. 5. Adjusted the records to reflect the use of the cooktop. Purchased on January 1, Yeur 1, the cooktop has an expected useful life of four years and an estimated salvage value of $3,000. Use straight-line depreciation. The adjusting entry was made as of December 31, Year 1. Required a. Record the above transactions in a horizontal statements model. b. What amount of depreciation expense would CIC report on the Year income statement? c. What amount of accumulated depreciation would CIC report on the December 31, Year 2, balance sheet? d. Would the cash flow from operating activities be affected by depreciation in Year 12 Complete this question by entering your answers in the tabs below. Reg Reg BtoD Record the above transactions in a hortzontal statements model in the Cash now column, indicate whether the com is an operating activity (CA), (IA), anancing activity (FA), or not change in cash (NC). If the element is not affected by the event, leave the cell blank. Inter any decreases to account cash outflows with a minus sign. Not all cells will require entry) COWBOY ICE CREAM COMPANY Horizontal Statements Model Balance Sheet Income Statement Event Ants Equity Statement of Cash F BV Common Retained Revenue Expense Cash - Net Income Equipment Stock Earnings a. Record the above transactions in a horizontal statements model. b. What amount of depreciation expense would CIC report on the Year 1 Income statement? c. What amount of accumulated depreciation would CIC report on the December 31, Year 2, balance sheet? d. Would the cash flow from operating activities be affected by depreciation in Year 1? Complete this question by entering your answers in the tabs below. Rega Regs to D Record the above transactions in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (IA), a financing activity (FA), or not change in cash (NC). If the element is not affected by the event, leave the cell blank Enter any decrease cash outflows with a minun sign. Not all cells will require entry) COWBOY ICE CREAM COMPANY Horizontal Statements Model Balance Sheet Income Statement Assets Equity BV Common Retained Revenue Expenso Equipment Stock Earnings Statement of Cash Flows Event Net Income Cath 1 2 3 4 5 Bal 0 0 O Req BtoD>

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