I need assistance with the attached accounting problems. Thank you

EXERCISE 7-13A Ultra Day Spa provided $120,000 of services during 2016. All customers paid for the services with credit cards. Ultra submitted the credit card receipts to the credit card company immediately. The credit card company paid Ultra cash in the amount of face value less a 5 percent service charge. a. Record the credit card sales and the subsequent collectionof accounts receivable in a horizontal statements model. In the cash flow column, indicate whether the item is an operating activity (OA) , investing activity (IA), or financing activity (FA). Use NA to indicatethat anelement is not affected by the event. Ultra Day Spa Horizontal Statements Model Balance Sheet Assets Even t Cash + Acct. Rec. = Lia + Equity b. = + Ret. Ear Income Statement Rev. Exp. = Net Inc. 1. 2. b. Based on this information alone answer the following questions: Statement of Cash Flows (1)What is the amount of total assets at the end of the accounting period? (2)What is the amount of revenue reported on the income statement? (3)What is the amount of cash flow from operating activities reported on the statement of cash flows? (4)What costs would a business incur if it maintained its own accounts receivable?What cost does a business incur by accepting credit cards? EXERCISE 8-9A City Taxi Service purchased a new auto to use as a taxi on January 1, 2016 and 2017. In addition, City paid sales tax and title fees of $1,200 for the vehicle. The taxi is expected to have a five-year life and a salvage value of $4,000. a. Using the straight-line method, compute the depreciation expense for 2016 and 2017. Calculation of Depreciation: Taxi Cost Sales Tax & Title Fees Total Cost Depreciable Cost: Depreciation: 2016 Depreciation: $ 2017 Depreciation: $ $ $ b. Prepare the general journal entry to record the 2016 depreciation. Date 2016 Account Titles Debit Credit Depreciation Expense Accumulated Depreciation c. Assume that the taxi was sold on January 1, 2018, for $22,000. Prepare the journal entry for the sale of the taxi in 2018. Cost Less: Accumulated Depreciation Book Value, 1/1/2018 Date 2018 Account Titles Cash Accumulated Depreciation Loss on Sale Taxi $ $ Debit Credit PROBLEM 8-34A Mitre Company acquired Midwest Transportation Co. for $1,400,000. The fair market value of the assets acquired were as follows. No liabilities were assumed. Equipment $510,000 Land 150,000 Building 520,000 Franchise (10-year life) 40,000 a. Calculate the amount of goodwill acquired. Acquisition Price Less: FV of Assets Acquired: Equipment Land Building Franchise Goodwill Acquired $ $ () $ 180,000 b. Prepare the journal entry to record the amortization of the franchise fee at the end of year 1. Debit Amortization Expense Franchise Credit