Identify each event affecting the 2018 and 2019 accounting periods as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE). Record the effects of each event under the appropriate general ledger account headings of the accounting equation. b-1. Prepare an income statement for 2018 and 2019. b-2. Prepare the statement of changes in stockholders equity for 2018 and 2019. b-3. Prepare the balance sheet for 2018 and 2019. b-4. Prepare the statement of cash flows for 2018 and 2019, using the vertical statements model.

Required information (The following information applies to the questions displayed below.) Alcorn Service Company was formed on January 1, 2018. Events Affecting the 2018 Accounting Period 1. Acquired $77,000 cash from the issue of common stock. 2. Purchased $4,600 of supplies on account. 3. Purchased land that cost $52,000 cash. 4. Paid $4,600 cash to settle accounts payable created in Event 2. 5. Recognized revenue on account of $76,000. 6. Paid $38,000 cash for other operating expenses. 7. Collected $55,000 cash from accounts receivable. Information for 2018 Adjusting Entries 8. Recognized accrued salaries of $4,900 on December 31, 2018. 9. Had $1,900 of supplies on hand at the end of the accounting period. Events Affecting the 2019 Accounting Period 1. Acquired $37,000 cash from the issue of common stock. 2. Paid $4,900 cash to settle the salaries payable obligation. 3. Paid $8,700 cash in advance to lease office space. 4. Sold the land that cost $52,000 for $52,000 cash. 5. Received $9.900 cash in advance for services to be performed in the future. 6. Purchased $2,700 of supplies on account during the year. 7. Provided services on account of $49,000. 8. Collected $50,000 cash from accounts receivable. 9. Paid a cash dividend of $9,000 to the stockholders. 10. Paid other operating expenses of $36,500. Information for 2019 Adjusting Entries 11. The advance payment for rental of the office space (see Event 3) was made on March 1 for a one-year term. 12. The cash advance for services to be provided in the future was collected on October 1 (see Event 5). The one-year contract started on October 1. 13. Had $2,000 of supplies remaining on hand at the end of the period. 14. Recognized accrued salaries of $5,600 at the end of the accounting period. 15. Recognized $2,100 of accrued interest revenue. Required Identify each event affecting the 2018 and 2019 accounting periods as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE). Record the effects of each event under the appropriate general ledger account headings of the accounting equation. Complete this question by entering your answers in the tabs below. Acc Equ 2018 Acc Equ 2019 Identify each event affecting the 2018 accounting periods as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE). Record the effects of eac under the appropriate general ledger account headings of the accounting equation. (Do not round intermediate calculations. Enter any decreases to account balances wit sign.) ALCORN SERVICE COMPANY Accounting Equation for 2018 Assets = Event Type of Event Accounts Receivable Liabilities Salaries Payable Prepaid Rent Cash Stockholders' Equity Common Retained Stock Earnings + Supplies Accounts Payable Unearned Revenue Land 1. 2. ++ 3. 4. ++ !!!! ..... 8. ### Totals 0 D 0 = D 0 D ACC Eau 2018 Acc Equ 2019 > Acc Equ 2018 Acc Equ 2019 Identify each event affecting the 2019 accounting periods as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE). Recor appropriate general ledger account headings of the accounting equation. (Do not round intermediate calculations. Enter any decreases to account bal ALCORN SERVICE COMPANY Accounting Equation for 2019 Type Assets Liabilities Stockholders' Equity Event Accounts Prepaid Interest Accounts Salaries Unearned Common Cash Event Retained Land Receivable Supplies Rent Receivable Payable Payable Revenue Stock Earnings Bal. of + 1. 2. 3. +++ 4. 5. . ++ 7. 8. 9. 10. 11. ++ 12. 13. 14. 15. Totals 0 0 0 lo 0 0 0 0 b-1. Prepare an Income statement for 2018 and 2019. b-2. Prepare the statement of changes in stockholders' equity for 2018 and 2019. b-3. Prepare the balance sheet for 2018 and 2019. b-4. Prepare the statement of cash flows for 2018 and 2019, using the vertical statements model. Complete this question by entering your answers in the tabs below. Req B1 Reg B2 Req B3 Req 84 Prepare an income statement for 2018 and 2019. (Do not round intermediate calculations.) ALCORN SERVICE COMPANY Income Statements For the Years Ended December 31, 2018 and 2019 2018 2019 Total revenue 0 0 Expenses Total expenses 0 0 0 S 0 S Ren B Req B2 > Reg B1 Req B2 Reg B3 Reg B4 Prepare the statement of changes in stockholders' equity for 2018 and 2019. ALCORN SERVICE COMPANY Statement of Changes in Stockholders' Equity For the Years Ended December 31, 2018 and 2019 2018 2019 Beginning common stock 0 D Ending common stock Beginning retained earnings Ending retained earnings Total stockholders' equity S 0 S 0 Prepare the balance sheet for 2018 and 2019. ALCORN SERVICE COMPANY Balance Sheets As of December 31, 2018 and 2019 2018 2019 Assets 0 Total assets Liabilities 0 0 Total liabilities Stockholders' Equity 0 Total stockholders' equity Total liabilities and stockholders' equity S TO 09 0 Reg B1 Reg B2 Reg B3 Reg B4 Prepare the statement of cash flows for 2018 and 2019, using the vertical be indicated with minus sign.). ALCORN SERVICE COMPANY Statements of Cash Flows For the Years Ended December 31, 2018 and 2019 2018 Cash flows from operating activities 2019 0 0 Net cash flow from operating activities Cash flows from investing scivities 0 D Net cash flow from investing activities Cash flows from financing activities 0 0 Net cash flow from financing activities Net change in cash 0 0 Ending cash balance S D S D Required information (The following information applies to the questions displayed below.) Alcorn Service Company was formed on January 1, 2018. Events Affecting the 2018 Accounting Period 1. Acquired $77,000 cash from the issue of common stock. 2. Purchased $4,600 of supplies on account. 3. Purchased land that cost $52,000 cash. 4. Paid $4,600 cash to settle accounts payable created in Event 2. 5. Recognized revenue on account of $76,000. 6. Paid $38,000 cash for other operating expenses. 7. Collected $55,000 cash from accounts receivable. Information for 2018 Adjusting Entries 8. Recognized accrued salaries of $4,900 on December 31, 2018. 9. Had $1,900 of supplies on hand at the end of the accounting period. Events Affecting the 2019 Accounting Period 1. Acquired $37,000 cash from the issue of common stock. 2. Paid $4,900 cash to settle the salaries payable obligation. 3. Paid $8,700 cash in advance to lease office space. 4. Sold the land that cost $52,000 for $52,000 cash. 5. Received $9.900 cash in advance for services to be performed in the future. 6. Purchased $2,700 of supplies on account during the year. 7. Provided services on account of $49,000. 8. Collected $50,000 cash from accounts receivable. 9. Paid a cash dividend of $9,000 to the stockholders. 10. Paid other operating expenses of $36,500. Information for 2019 Adjusting Entries 11. The advance payment for rental of the office space (see Event 3) was made on March 1 for a one-year term. 12. The cash advance for services to be provided in the future was collected on October 1 (see Event 5). The one-year contract started on October 1. 13. Had $2,000 of supplies remaining on hand at the end of the period. 14. Recognized accrued salaries of $5,600 at the end of the accounting period. 15. Recognized $2,100 of accrued interest revenue. Required Identify each event affecting the 2018 and 2019 accounting periods as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE). Record the effects of each event under the appropriate general ledger account headings of the accounting equation. Complete this question by entering your answers in the tabs below. Acc Equ 2018 Acc Equ 2019 Identify each event affecting the 2018 accounting periods as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE). Record the effects of eac under the appropriate general ledger account headings of the accounting equation. (Do not round intermediate calculations. Enter any decreases to account balances wit sign.) ALCORN SERVICE COMPANY Accounting Equation for 2018 Assets = Event Type of Event Accounts Receivable Liabilities Salaries Payable Prepaid Rent Cash Stockholders' Equity Common Retained Stock Earnings + Supplies Accounts Payable Unearned Revenue Land 1. 2. ++ 3. 4. ++ !!!! ..... 8. ### Totals 0 D 0 = D 0 D ACC Eau 2018 Acc Equ 2019 > Acc Equ 2018 Acc Equ 2019 Identify each event affecting the 2019 accounting periods as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE). Recor appropriate general ledger account headings of the accounting equation. (Do not round intermediate calculations. Enter any decreases to account bal ALCORN SERVICE COMPANY Accounting Equation for 2019 Type Assets Liabilities Stockholders' Equity Event Accounts Prepaid Interest Accounts Salaries Unearned Common Cash Event Retained Land Receivable Supplies Rent Receivable Payable Payable Revenue Stock Earnings Bal. of + 1. 2. 3. +++ 4. 5. . ++ 7. 8. 9. 10. 11. ++ 12. 13. 14. 15. Totals 0 0 0 lo 0 0 0 0 b-1. Prepare an Income statement for 2018 and 2019. b-2. Prepare the statement of changes in stockholders' equity for 2018 and 2019. b-3. Prepare the balance sheet for 2018 and 2019. b-4. Prepare the statement of cash flows for 2018 and 2019, using the vertical statements model. Complete this question by entering your answers in the tabs below. Req B1 Reg B2 Req B3 Req 84 Prepare an income statement for 2018 and 2019. (Do not round intermediate calculations.) ALCORN SERVICE COMPANY Income Statements For the Years Ended December 31, 2018 and 2019 2018 2019 Total revenue 0 0 Expenses Total expenses 0 0 0 S 0 S Ren B Req B2 > Reg B1 Req B2 Reg B3 Reg B4 Prepare the statement of changes in stockholders' equity for 2018 and 2019. ALCORN SERVICE COMPANY Statement of Changes in Stockholders' Equity For the Years Ended December 31, 2018 and 2019 2018 2019 Beginning common stock 0 D Ending common stock Beginning retained earnings Ending retained earnings Total stockholders' equity S 0 S 0 Prepare the balance sheet for 2018 and 2019. ALCORN SERVICE COMPANY Balance Sheets As of December 31, 2018 and 2019 2018 2019 Assets 0 Total assets Liabilities 0 0 Total liabilities Stockholders' Equity 0 Total stockholders' equity Total liabilities and stockholders' equity S TO 09 0 Reg B1 Reg B2 Reg B3 Reg B4 Prepare the statement of cash flows for 2018 and 2019, using the vertical be indicated with minus sign.). ALCORN SERVICE COMPANY Statements of Cash Flows For the Years Ended December 31, 2018 and 2019 2018 Cash flows from operating activities 2019 0 0 Net cash flow from operating activities Cash flows from investing scivities 0 D Net cash flow from investing activities Cash flows from financing activities 0 0 Net cash flow from financing activities Net change in cash 0 0 Ending cash balance S D S D