Pequiled information The following information apples to me questions daplowed below] Leach incorporated experienced the folowing events for the first two years of its operations. That: L lissued stlooo of common stock for canh. 2. Provided $79,100 of iervices on sccount 3. Provided $37000 of iervices and recelved canh. 4. Collected $70,000 cash from accounts receivable 5. Paid $39000 of salahes expense for the year 6. Adprtied the accounting recordi to roflect uncollectible accounts expense for the wear Leach estimates that 5 percent of the ending accounts recelvable belance will be uncellectible. z. Closed the revenue account. i. Closed the erpense accounts. Year 2 1. Whete of an uncoliectible account for $700. 2. Provided $89.000 of services on account. 3. Fronded $31000 of semices and collected cash. 4. Coltected \$192.000 canh from accounts recelvable. 5. Paid $66.000 of salvies expense for the yeac. a. Adfusted the accounts to refect uncellectible sccounts expense for the yeac teach estimates that 5 percent of the ending accounts recelvable balance ind be uncolectible z. Cloned the revenue account. a. Closed the expense sccounts. 3. Pivpare the income statement, statempnt of changes in stockholders' equity, balance sheet, and statement of cash fows for Year t Cemplete this quaitien try entering yeur snrwers in the tabs below. Freparr the ncomis statiment fer rear 1. Prequied hermatien now 1 . 2. huvided 579800 el wervices ton sctount. 3 Treveded 537000 of servet ind sectived canh. a Cosed the experset mecourts wew 2 2. Fionded $59009 of services on accourt. 5. Pald $65.000 of vabies enpenite for the year x, Cosed the revinia actovent. Pequiled information The following information apples to me questions daplowed below] Leach incorporated experienced the folowing events for the first two years of its operations. That: L lissued stlooo of common stock for canh. 2. Provided $79,100 of iervices on sccount 3. Provided $37000 of iervices and recelved canh. 4. Collected $70,000 cash from accounts receivable 5. Paid $39000 of salahes expense for the year 6. Adprtied the accounting recordi to roflect uncollectible accounts expense for the wear Leach estimates that 5 percent of the ending accounts recelvable belance will be uncellectible. z. Closed the revenue account. i. Closed the erpense accounts. Year 2 1. Whete of an uncoliectible account for $700. 2. Provided $89.000 of services on account. 3. Fronded $31000 of semices and collected cash. 4. Coltected \$192.000 canh from accounts recelvable. 5. Paid $66.000 of salvies expense for the yeac. a. Adfusted the accounts to refect uncellectible sccounts expense for the yeac teach estimates that 5 percent of the ending accounts recelvable balance ind be uncolectible z. Cloned the revenue account. a. Closed the expense sccounts. 3. Pivpare the income statement, statempnt of changes in stockholders' equity, balance sheet, and statement of cash fows for Year t Cemplete this quaitien try entering yeur snrwers in the tabs below. Freparr the ncomis statiment fer rear 1. Prequied hermatien now 1 . 2. huvided 579800 el wervices ton sctount. 3 Treveded 537000 of servet ind sectived canh. a Cosed the experset mecourts wew 2 2. Fionded $59009 of services on accourt. 5. Pald $65.000 of vabies enpenite for the year x, Cosed the revinia actovent
