mostly finished but need help completing
Cenage MALHOECON ACCT 1101 (1) How to Use E. CPU builder Homework Savrd A partial amortization schedule for a 10-year note payable issued on January 1, Year 1. is shown next Accounting Period Year 1 Year 2 Year 3 Principal Balance January 1 $230,000 211,714 192,514 Cash Payment $29,786 29,786 29,786 Applied to Interest $11,500 10,586 9,626 Applied to Principal $18,286 19,200 20, 16e Required a. Using a financial statements model, record the appropnate amounts for the following two events: (1) January 1, Year 1, Issue of the note payable. (2) December 31, Year 1, payment on the note payable. b. If the company earned $68,000 cash revenue and paid $48.000 in cash expenses in addition to the interest in Year 1, what is the amount of each of the following? (1) Net income for Year 1 (2) Cash flow from operating activities for Year 1. (3) Cash flow from financing activities for Year 1 c. What is the amount of interest expense on this loan for Year 4? Complete this question by entering your answers in the tabs below. Required A Required B Required B2 Required Be Required Using a financial statements model, record the pppropriate amounts for the following two everts: (1) Jerry 1 Year we the note payabl on the nate payable in the Statement of Cash Flows column, indicate whether the items an obrating AcVxovesting activity (IA), or Required A Required B Required 62 Required Required Uung a financial statements madel, record the appropriate amounts for the following two events: (1) January 1, Year 1 issue of the note payable ) December war, payment on the note payable. (In the Statement of shows colui indicate whether the item is an operating activity (OA). Investing activity (TA), or financing activity. Notes require input. Amounts to be deducted and cash outflows should be indicated with a minus sign) Show Financial Statement Model Balance sheet $tenant of Cath Event No. come fate Expenses Stockholder Equity Assets Revenue Notincome 230,000 + 1 2 230.000 (11 500 230,000 PA 201701F (29,75 (18200 10.306 - . + Required 11 > (1) Net income for Year 1 (2) Cash flow from operating activities for Year 1 (3) Cash flow from financing activities for Year 1 c. What is the amount of interest expense on this loan for Year 4? Complete this question by entering your answers in the tabs below. Required A Required B1 Required B2 Required 83 Required y the company corned $68,000 cash revenue and paid $48,000 in cash expenses in addition to the laterest in Year 1, what is the amount of Net Income for Year 12 $ 60,000 Reverse Expenses Operating expenses Interest expense 48.000 18.286 Total expenses net income (66.285) 1.714 5 (Required A Required 82 > b. If the company earned $68.000 cash revenue and paid $48.000 in cash expenses in addition to the interest in Year 1. what is the amount of each of the following? (1) Net Income for Year 1 (2) Cash flow from operating activities for Year 1 (3) Cash flow from financing activities for Year 1 c. What is the amount of interest expense on this loan for Year 4? Complete this question by entering your answers in the tabs below. Required A Required Bi Required B2 Required B3 Required if the company earned $68.000 cash revenue and paid $48,000 in cash expenses in addition to the interest in Year 1, what is the amount of cash flow from operating activities for Year 12 (Amounts to be deducted and cash outflows should be indicated with minus sign.) Cash flows from operating activities Inflow from customers Outfow for expenses $ 68,000 (48,000) Net cash flow from operating activities $ 20,000
