Ortho Company experienced the following events during its first and second-year operations Year 1 Transactions 1. Acquired $68,000 cash from the issue of common stock 2 Borrowed $36.000 cash from the National Credit Union 3. Earned $59,000 of cash revenue 4 Incurred $43,000 of cash expenses. 5. Paid a $7000 cash dividend. 6. Paid $37000 cash to purchase land. Year 2 Transactions: 1. Acquired 550,000 cash from the issue of common stock 2. Borrowed $20.000 cash from the National Credit Union 3. Earned 585,000 of cash revenue 4. Incurred $62.000 of cash expenses 5. Paid a $2.000 cash dividend 6. Paid $25,000 cash to purchase land Required a. Record the transactions in an accounting equation like the equation shown next Record the amounts of revenue, expense, and dividends in the Retained Earnings column Provide the appropriate tities for these accounts in the last column of the table. Show the totals at the end of Year 1 and use these totals as the beginning balances for the second accounting cycle b-1. Prepare an income statement for Yeart and Year 2 b-2. Prepare a stockholders' equity for Yeart and Year 2 b-3. Prepare a balance sheet for Year and Year 2 6-4. Prepare a statement of cash flows for Year 1 and Year 2 Complete this question by entering your answers in the tabs below. Reg A Year 1 Reg A Year 2 Req B1 Req B2 Reg 83 Red 84 Record the transactions in an accounting equation like the equation shown next. Record the amounts of revenue, expense, and dividends in the column Provide the appropriate titles for these accounts in the last column of the table. Show the totals at the end of Year 1 and use these tot balances for the second accounting cycle. (Enter any decreases to account balances with a minus vige. Not all cells require input.) Assets ORTHO COMPANY Accounting Equation for Year 1 Liabilities Notes Common Payable Stock Event Stockholders' Equity Roland Account Tits for Earnings Retained Eaming Cash Land + - Beg Bal 1 Issued stock = +++ 2 Loan 3. Cash revende 4 Cash expenses 5 Paid dividend 6. Land purchase Totals ++++ + 0 5 0 5 05 Reg A Year >> Complete this question by entering your answers in the tabs below. Reg A Year 1 Reg A Year 2 Reg 81 Req B2 Reg B3 Reg 14 Record the transactions in an accounting equation like the equation shown next. Record the amounts of revenue, expense, and dividends in the Retained column. Provide the appropriate titles for these accounts in the last column of the table. Show the totals at the end of Year 1 and use these totals as the balances for the second accounting cycle. (Enter any decreases to account balances with a minus sign. Not all cells require input) Assets ORTHO COMPANY Accounting Equation for Year 2 Llabilities Notes Common Payable Stock Event Cash Land Stockholders' Equity Retained Account Titles for Earnings Retained Earnings + Beg Bal 1. Issued stock 2 Loan 3. Cash revenue 4. Cash expenses 5 Paid dividend 6 Land purchase Totals + . 5 0 Complete this question by entering your answers in the tabs below. Req A Year 1 Req A Year 2 Req B1 Req B2 Req B3 Req B4 Prepare an income statement for Year 1 and Year 2. ORTHO COMPANY Income Statement For the Period Ended December 31. Year 1 & Year 2 Year 1 Year 2 $ 0 $ 0 Prepare a stockholders' equity for Year 1 and Year 2. ORTHO COMPANY Statement of Changes in Stockholders' Equity For the Period Ended December 31, Year 1 & Year 2 Year 1 Beginning common stock Year 2 S 0 $ Ending common stock Beginning retained earnings $ 0 $ Ending retained earnings Total stockholders' equity $ 0 S 0 Prepare a balance sheet for Year 1 and Year 2. ORTHO COMPANY Balance Sheet As of December 31, Year 1 Year 1 Year 2 Assets Total assets 05 Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equilty 0 0$ 0 0 Prepare a statement of cash flows for Year 1 and Year 2. (Amounts to be deducted should be indicated with a mini ORTHO COMPANY Statement of Cash Flows For the Year Ended December 31, Year 18 Year 2 Year 1 Cash flows from operating activities Year 2 Net cash flow from operating activities Cash flows from investing activities 05 0 0 Net cash flow from investing activities Cash flows from financing activities Net cash flow from financing activities $ Ending Cash Balance $ 0 $
