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I need help filling out this accounting spreadsheet. All information is included within the photos as well as the format to put my data in.
I need help filling out this accounting spreadsheet. All information is included within the photos as well as the format to put my data in. Thank you in advance!
lowa Service Company was formed on January 1, 2016 and the following transactions occurred in 2016: 1. Acquired $60,000 cash from the issuance of common stock. 2. Purchased $1,200 of supplies on account. 3. Paid $800 cash towards the accounts payable in no. 2. 4. Recognized revenue on account of $42,000 5. Paid $21,000 for other operating expenses. 6. Collected $38,000 cash from accounts receivable. Adjusting entries in 2016 8. Recognized accrued salaries of $3,200 as of December 31, 2016. 9. Had $200 of supplies on hand as of December 31, 2016. Transactions in 2017 1. Paid $3,200 cash to settle the salaries payable obligation. 2. Paid $3,600 cash in advance to lease office space. 3. Purchased $1,000 of supplies on account 4. Provided services on account of $32,000. 5. Collected $33,000 cash from accounts receivable. 6. Paid a cash dividend of $5,000 to the shareholders. 7. Paid other operating expenses of $19,500. Adjusting entries in 2017 8. The advanced payment for rental of the office space was made on March 1 for an one year term (Event 3) 9. Had $300 of supplies on hand as of December 31, 2017. Record each transaction and adjusting entries for the two years in a horizontal statements model using the follow Excel template: Chapter 2 Template Please note that vo should change the notifications under the "Satting" ontion so that vouare Step by Step Solution
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