Hoimes Cleaning Service began operabon on January 1. Year 1. The company expenenced the folowng events for irs first year of operations Events Affecting Yeor 1: 1. Provided $200,000 of cleanng services on account. 2 Collected $150,000 cash from accounts recervoble 3. Pald eolaries of $24,000 for the year 4. Adjusted the accounts to refect managernent's expectations that uncollectble accounts experse would be 52000 . The expense was determined using the percent of revenue method Requlred: 0. Organze the tansaction data in accounts under an occounting equason b. Prepsre an income statement, a balance sheet, ond a stotement of cash fows for Vear 1 . Complete this question by eatering your answers in the tabs below. Orvenipe the tranasction data in accounts under an accounting equation. Wote: Enter any decrevert to account balances with a miner sign, Hat alicellis requve isput. Hoimes Cleaning Service began operation on January 1. Year 1. The company experienced the following events for its first year of operations: Events Affecting Yeer 1: 1. Provided $200,000 of cleaning services on account. 2. Collected $150,000 cash from accounts receivable. 3. Pald salartes or $24,000 for the year. 4. Adjusted the accounts to reflect management's expectations that uncollectible accounts expense would be $2,000. The expense was determined using the percent of revenue method Required: 0. Organize the transaction dato in accounts under an accounting equation. b. Prepare an income statement, a balance sheet, and a statement of cash flows for Year 1 . Complete this question by entering your answers in the tabs below. Prepare an income statement for Year 1 . Holmes Cleaning Service began operation on January 1. Year 1. The company experienced the following events for its first year of operations: Events Affecting Year 1: 1. Provided $200,000 of cleaning services on account 2. Collected $150,000 cash from accounts recelvable 3. Paid salartes of $24,000 for the year. 4. Adjusted the accounts to reflect management's expectations that uncollectible accounts expense would be $2,000. The expense was determined using the percent of revenue method. Required: e. Organize the transaction data in accounts under an accounting equation. b. Prepare an income statement, a balance sheet, and a statement of cash flows for Year 1. Complete this question by entering your answers in the tabs below. Prepare a balance sheot for Year 1 . Hoimes Cleaning Service began operation on January 1. Year 1. The company experlenced the following events for its first year of operations. Events Affecting Yeer 1 : 1. Provided $200,000 of cleaning services on account 2. Collected $150,000 cash from accounts recelvable 3. Paid salarles of $24,000 for the year: 4. Adjusted the accounts to reflect management's expectations that uncollectible accounts expense would be $2000. The expense was determined using the percent of revenue method Required: 0. Organize the transaction data in occounts under an accounting equavon. b. Prepare an income statement, a balance sheet, and a statement of cash flows for Year 1 Complete this question by entering your answers in the tabs below. Prepare a statement of cash flowrs for Ye get 1. NoturfAntueuts to be deducted should be indicated with a minut sigh
