How each of the following events or series of events and the related adjusting entry will effect the amount of net income and the amount of cash flow from operating activities reported on the year end financial statements. Identify the direction of chang (increase/decrease or NA) and the amount of the change. Organize your answers according to the following table. The first event is recorded as an example. If an event does not have a related adjusting entry, record only the effects of the event. (Dont round intermediate calculations)

1.paid $9,000 cash on October 1to purchase a one-year insurance policy

2. Purchased $2000 of supplies on account. Paid $500 cash and accounts payable. The ending balance in the supplies account, after adjustments, was $300

3.Provided services for $10,000 cash

4. Collected $2400 in advance for services to be performed in the future. The contract called for services to start on May 1 and to continue for one year

5.Accrued salaries amounting to $5600

6. Sold land that cost $3000 for $3000 cash

7.Acquired $15,000 cash from the issue of common stock

8.Earned $12,000 of revenue an account. Collected $8000 cash from accounts receivable

9. Paid cash operating expenses of $4500

Cash flours from Operating Activities incom Adjustment Direction of Amount of Direction of Amount of Change NA Decrease 9,000 Ad. Decrease2,250 NA Ad Ad Adj Adj Adj Prey