O 2 Part 22 Required information The following information applies to the questions displayed below! Alcom Service Company was formed on January 1. Your Events Affecting the Year 1 Accounting Period 1. Acquired $65.000 cash from the issue of common stock 2. Purchased $2.200 of supplies on account 3. Purchased and that cost $28,000 cash 4. Pald $2,200 cash to settle accounts payable created in Event 2 5. Recognized revenue on account of $52,000. 6. Pald $26.000 cash for other operating expenses 7. Collected $43,000 cash from accounts receivable Informotion for Year 1 Adjusting Entries 8. Recognized accrued sories of $3.700 on December 31 Year 1 9. Hod 5700 of cupolles on tund at the end of the accounting period Events Affecting the Year 2 Accounting Period 1. Acgoed $25.000 cash from the issue of common stock 2. Paid $3.700 cash to settle the solares payable oblation 3. Pald $5 100 cash in advance to leave office space 4. Sold the land that cost $28,000 for $28.000 cash 5. Received 56,300 cash in advance for services to be performed in the future, 6. Purchased $1.500 of supplies on account during the year 7. Provided Kervices on Count 137ODO 2 Part 2012 Events Affecting the Year 2 Accounting Period 1. Acquired $25.000 cash from the issue of common stock 2. Paid $3.700 cash to settle the salaries payable obligation 3. Paid $5,100 cash in advance to lease office space 4. Sold the land that cost $28,000 for $28.000 cash 5. Received $6,300 cash in advance for services to be performed in the future 6. Purchased $1,500 of supplies on account during the year. 7. Provided services on account of $37.000 8. Collected $38,000 cash from accounts receivable 9. Pald o cash dividend of $4,000 to the stockholders. 10. Paid other operating experies of $24.500. Boos im rences Information for Year 2 Adjusting Entries 11. The advance payment for rental of the office space (see Event 3) was made on March 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 $800 of supplies remaining on hand at the end of the period 14. Recognized ccrued salaries of $4.400 at the end of the accounting period 15. Recognized $900 of accrued interest revenue b-1. Prepare an income statement for Year and Year 2 b-2. Prepare the statement of changes in stockholders equity for Year 1 and Yoor 2 b-3. Prepare the balance sheet for Year and Year 2 b-4. Propare the statement of cash flows for Year 1 and Year 2 using the vertical statements model Complete this question by entering your answers in the tabs below. Part 2 of 2 Reg BI Red B2 Reg B3 Red 34 BOOK Prepare an income statement for Year 1 and Year 2. (Do not round Intermediate calculations.) ALCORN SERVICE COMPANY Reterences Income Statements For the Years Ended December 31, Year 1 and Year 2 Year 1 Year 2 0 Total venue Expenses Total expenses 0 0 S Complete this question by entering your answers in the tabs below. Part 2 of 2 Reg 1 Red BZ Reg 03 Reg 14 elopm D Prepare the statement of changes in stockholders' equity for Year 1 and Year 2 ALCORN SERVICE COMPANY Statement of Changes in Stockholders Equity For the Year Ended December 31, Year and Yes 2 References Year 1 Year 2 Beginning common stock 0 Ending common stock Beginning roomd earnings Ending round carings Total stockholders oquly 0 05 0 0 5 Required information 2 Balance Sheets As of December 31, Year 1 and Year 2 Year 1 Year 2 Part 2 of 2 Assets eBook Pret References $ 0 $ 0 Total assets Liabilities 0 0 Total botos Stockholders' Equity 0 0 Total stockholders equity Totallibilities and stockholders' equity 5 09 0 2 Prepare the statement of cash flows for Year 1 and Year 2, using the vertical statements model (Cash outflows should be Indicated with a minus sign.) Part 2 of 2 ALCORN SERVICE COMPANY Statements of Cash Flows For the Years Ended December at Year 1 and Year 2 Year 1 Year 2 Cash flows from operating activities Book pu peternoos 0 Net cash Tow from operating activities Cash flows from investing activities 0 0 Not cash flow from investing activities Cash flows from finanong activities 0 0 Not cash flow from financing activities Not change in cash 0 0 5 0 Ending cash balance os