Need detailed answer with snapshot of which box has which value in answer.
Vulcan Service Co. experienced the following transactions for Year 1, its first year of operations: 1. Provided $91000 of services on account 2. Collected $72,000 cash from accounts receivable. 3. Pald $36,000 of salaries expense for the year 4. Adjusted the accounts using the following information from an accounts receivable aging schedule: Required a. Organize the transaction data in accounts under an accounting equation. b. Prepare the income statement for Vulcan Service Co. for Year 1. c. What is the net realizable value of the accounts receivable at December 31, Year 1? Complete this question by entering your answers in the tabs below. Percent Likely to Be Uncollectible 0.01 Allowance Balance Number of Days Past Due Current 2-30 31-60 61-90 Over 90 days Required A Amount $ $7,800 4,500 2,000 2,200 2.500 Required B Required 9.10 0.20 2.50 Prepare the income statement for Vulcan Service Co. for Year 1. Required 6. Organize the transaction data in accounts under an accounting equation b. Prepare the income statement for Vulcan Service Co. for Year c. What is the net realizable value of the accounts receivable at December 31 Year 1? VULCAN SERVICE CO. Income Statement For the Year Ended December 31, Year 1 Operating expenses Complete this question by entering your answers in the tabs below. . Required Required B Required Total operating expenses Organize the transaction data in accounts under an accounting equation. (Enter any decreases to account balances with a minus sign. Not all cells require input.) > Required 6. Organize the transaction data in accounts under an accounting equation. b. Prepare the income statement for Vulcan Service Co. for Year 1. c. What is the net realizable value of the accounts receivable at December 31, Year 1? Required a. Organize the transaction data in accounts under an accounting equation. b. Prepare the income statement for Vulcan Service Co. for Year 1. c. What is the net realizable value of the accounts receivable at December 31, Year 1? Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required A Required B Required Required A Required B Required C Organize the transaction data in accounts under an accounting equation. (Enter any decreases to account balances with a minus sign. Not all cells require input.) VULCAN SERVICE CO. Accounting Equation for Year 1 Assets Liabilities Equity Event NRV Cash Accounts Common Account Titles for Retained Earnings Stock Receivable Earnings 1 2 3 3 What is the net realizable value of the accounts receivable at December 31, Year 17 Retained Net realizable value
