Jojoba Service Company was formed on January 1, Year 1. Events Affecting the Year 1 Accounting Period 1. Acquired cash of $60,000 from the issue of common stock. 2. Purchased $1.200 of supplies on account. 3. Purchased land that cost $18,000 cash. 4. Paid $80 cash to settle accounts payable created in Event 2. 5. Recognized revenue on account of $42,000. 6. Paid $21,000 cash for other operating expenses. 7. Collected $38.000 cash from accounts receivable. Information for Year 1 Adjusting Entries 8. Recognized accrued salaries of $3,200 on December 31. Year 1. 9. Had $200 of supplies on hand at the end of the accounting period. Events Affecting the Year 2 Accounting Period 1. Acquired an additional $20,000 cash from the issue of common stock. 2. Paid $3,200 cash to settle the salaries payable obligation 3. Paid $3,600 cash in advance for a lease on office facilities. 4. Sold land that had cost $15,000 for $15,000 cash. 5. Received $4,800 cash in advance for services to be performed in the future. 6. Purchased $1,000 of supplies on account during the year, 7. Provided services on account of $32,000. 8. Collected $33,000 cash from accounts receivable. 9. Paid a cash dividend of $5,000 to the stockholders. 10. Paid other operating expenses of $19,500. Information for Year 2 Adjusting Entries 11. The advance payment for rental of the office facilities (see Event was made on March 1 for a one-year lease 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 October 1. 13. Had $300 of supplies on hand at the end of the period. 14. Recognized accrued salaries of $3,900 at the end of the accounting period. Question 5 1 pts Refer to the Jojoba Service Copmpany Financial Information in the previous question and prepare the Balance Sheet for the Year 2. Please note that Supplies is more short-term than Prepaid Rent, and Accounts Receivable is more "short-term than Supplies. Aslo note that Accounts Payable is the most short-term account and Unearned Revenue is the least short-term account of their kind, Assets: Select Select) Select) Select) Select Select] Select Select) Select Select) Total Assets Select Libilities: Select Select) Select Select Total Assets Select > Libilities: Select Select Select) Select) Select Select Total Liabilities: Select) Stockholders' Equity: Select) Select Select Select Total Stockholders' Equity Select Total Liab, and SE Select) Jojoba Service Company was formed on January 1, Year 1. Events Affecting the Year 1 Accounting Period 1. Acquired cash of $60,000 from the issue of common stock. 2. Purchased $1.200 of supplies on account. 3. Purchased land that cost $18,000 cash. 4. Paid $80 cash to settle accounts payable created in Event 2. 5. Recognized revenue on account of $42,000. 6. Paid $21,000 cash for other operating expenses. 7. Collected $38.000 cash from accounts receivable. Information for Year 1 Adjusting Entries 8. Recognized accrued salaries of $3,200 on December 31. Year 1. 9. Had $200 of supplies on hand at the end of the accounting period. Events Affecting the Year 2 Accounting Period 1. Acquired an additional $20,000 cash from the issue of common stock. 2. Paid $3,200 cash to settle the salaries payable obligation 3. Paid $3,600 cash in advance for a lease on office facilities. 4. Sold land that had cost $15,000 for $15,000 cash. 5. Received $4,800 cash in advance for services to be performed in the future. 6. Purchased $1,000 of supplies on account during the year, 7. Provided services on account of $32,000. 8. Collected $33,000 cash from accounts receivable. 9. Paid a cash dividend of $5,000 to the stockholders. 10. Paid other operating expenses of $19,500. Information for Year 2 Adjusting Entries 11. The advance payment for rental of the office facilities (see Event was made on March 1 for a one-year lease 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 October 1. 13. Had $300 of supplies on hand at the end of the period. 14. Recognized accrued salaries of $3,900 at the end of the accounting period. Question 5 1 pts Refer to the Jojoba Service Copmpany Financial Information in the previous question and prepare the Balance Sheet for the Year 2. Please note that Supplies is more short-term than Prepaid Rent, and Accounts Receivable is more "short-term than Supplies. Aslo note that Accounts Payable is the most short-term account and Unearned Revenue is the least short-term account of their kind, Assets: Select Select) Select) Select) Select Select] Select Select) Select Select) Total Assets Select Libilities: Select Select) Select Select Total Assets Select > Libilities: Select Select Select) Select) Select Select Total Liabilities: Select) Stockholders' Equity: Select) Select Select Select Total Stockholders' Equity Select Total Liab, and SE Select)