Performed counseling services for

$30,000

cash.\ On February 1, Year 1, paid

$21,000

cash to rent office space for the coming year.\ Adjusted the accounts to reflect the amount of rent used during the year.\ Required\ Based on this information alone:\ a. Record the events under an accounting equation.\ b. Prepare an income statement, balance sheet, and statement of cash flows for the Year 1 accounting period\ c. Ignoring all other future events, what is the amount of rent expense that would be recognized in Year 2 ?\ Complete this question by entering your answers in the tabs below.\ \\\\table[[Req A,\\\\table[[Req B1 Inc],[Stmt]],\\\\table[[Req B2 Bal],[Sheet]],\\\\table[[Req B3 CF],[Stmt]],Req C]]\ Record the events under an accounting equation. (Do not round intermediate calculations. Enter any decreases to balances with a minus sign.)\ LIFE, INC.\ Effect of Events on the Accounting Equation\ \\\\table[[Event,Assets,

=

,\\\\table[[Stockholders'],[Equity]]],[- Cash,\\\\table[[Prepaid],[Rent]],{f2fe16164-7d43-4414-9835-e79dce83797f}\ \\\\table[[Retained],[Earnings]],,]]

1. Performed counseling services for $30,000 cash. 2. On February 1, Year 1. paid $21,000 cash to rent office space for the coming year. 3. Adjusted the accounts to reflect the amount of rent used during the year. Required Based on this information alone: a. Record the events under an accounting equation. b. Prepare an income statement, balance sheet, and statement of cash flows for the Year 1 accounting period c. Ignoring all other future events, what is the amount of rent expense that would be recognized in Year 2? Complete this question by entering your answers in the tabs below. Record the events under an accounting equation. (Do not round intermediate calculations. Enter any decreases to balances with a minus sign.)