help #34

Exercise 3-9A (Algo) Supplies, unearned revenue, and the financial statements model LO 31,33 Hart, Attorney at Law, experienced the following transactions in Year 1 , the first year of operabions: 1. Accepted 517000 on April 1. Year 1 , as a retainer for services to be performed evenly over the next 12 months. 2. Performed legat services for cosh of $61,000 3. Purchased $1,400 of office supplies on account. 4. Paid $1,260 of the amount due on accounts payable. 5. Paid a cash divlidend to the stockholders of $4.800 6. Pald cash for operating expenses of $21,200. 7. Determined that at the end of the accounting period $120 of office supplies remained on hand. 8. On December 31, Yeat 1, recognized the rewense that had becn earned for services perfocmed in accordance with Transaction 1 . Required: Show the effects of the eyents on the financial statements using a horizontal statements model. The first event has been recotded as arn example: Notec In the Statement of Cash Flows column, use the initisls OA to designate operating activity, la for investing activity, fA for Financing activify, ond NC for net change in cash. Do not round intermediete colculations. Enter bny decreases to account belances and cash outflows with o minus sign. Not all celis require input. balances and cosh outlows with a minus sign. Not all cells require input