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I am honestly getting confused to where everything goes. I filled it out once already and mostly was wrong. Plzza Express Incorporated began the Year
I am honestly getting confused to where everything goes. I filled it out once already and mostly was wrong.
Plzza Express Incorporated began the Year 2 accounting perlod with $8,500 cash, $5,500 of common stock, and $3,000 of retalned earnings. Plzza Express was affected by the following accounting events during Year 2 : 1. Purchased $11,000 of supplies on account. 2. Earned and collected $22,000 of cash revenue. 3. Pald $9,500 cash on accounts payable. 4. Adjusted the records to reflect the use of supplies. A physical count Indicated that $2,800 of supplies was still on hand on December 31, Year 2. Required: a. Show the effects of the events on the financlal statements using a horizontal statements model given below. In the Statement of Cash Flows column, use OA to designate operating actlivity, IA for Investing actlvity, FA for financing actlvity, and NC for net change in cash. The beginning balances have been recorded as an example. Note: Enter any decreases to account balances and cash outflows with a minus sign. Not all cells requlre InputStep by Step Solution
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