OK Davod contract to lease delivery equipment for the business. It signed the lease agreement on March 1, Yeart, which was effective immediately. Cherokee received $116.725 of cash revenue in Year 1 Required Show all events in a horizontal statements model a.& 6. Record the March 1 cash payment and adjustment required as of December 31, Year 1 in general Jourruat format d.&e. What amount of net income will Cherokee Company report on the Year 1 income statement? What is the amount of net cash How from operating activities for Year 1 Determine the amount of prepaid rent Cherokee Company would report on the December 3 Year 1, balance sheet Complete this question by entering your answers in the tabs below. Fleg A and a ReqC Reg Dand Record the March 1 cash payment and adjustment required as of December 31, Year 1 in general Journal format. (ir ne entry is required for a transaction/event, select "Hojournal entry required in the first account field.) View transaction lit Journal entry worksheet 1 > Record rent paid in advance Dahl Credh March Next > DELL Req A and B Reg C Reg D and E Record the March 1 cash payment and adjustment required as of December 31, Year 1 in general journa for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 Record the adjusting entry for prepaid rent. Note: Enter debits before credits. General Journal Debit Credit Date December 31 Record entry Clear entry View general journal Regc > DELL Ulu Illis and Identitying their effect on financial statements LO 13-2 Cherokee Company began operations when it issued common stock for S101,500 cash. It paid 591,350 cash in advance for a one year contract to lease delivery equipment for the business. It signed the lease agreement on March 1, Year 1, which was effective immediately. Cherokee received $116,725 of cash revenue in Yeart Required a. & b. Record the March 1 cash payment and adjustment required as of December 31, Year in general Journal format c. Show all events in a horizontal statements model d. & e. What amount of net income will Cherokee Company report on the Year income statement? What is the amount of net cash flow from operating activities for Year 1? Determine the amount of prepaid rent Cherokee Company would report on the December 31 Year 1. balance sheet Complete this question by entering your answers in the tabs below. Req A and B ReqC Req Dande What amount of net income will Cherokee Company report on the Year 1 income statement? What is the amount of net cash flow from operating activities for Year 17 Determine the amount of prepaid rent Cherokee Company would report on the December 31, Year 1, balance sheet. (Do not round Intermediate calculations.) d Net Income Net cash flow from operating activities e Prepaid rent
