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Pizza Express Incorporated began the Year 2 accounting period with $10,000 cash, $7,000 of common stock, and $3,000 of retained earnings. Pizza Express was affected
Pizza Express Incorporated began the Year 2 accounting period with $10,000 cash, $7,000 of common stock, and $3,000 of retained earnings. Pizza Express was affected by the following accounting events during Year 2: Purchased $10,000 of supplies on account. Earned and collected $28,000 of cash revenue. Paid $8,500 cash on accounts payable. Adjusted the records to reflect the use of supplies. A physical count indicated that $2,100 of supplies was still on hand on December 31, Year 2. Required Show the effects of the events on the financial statements using a horizontal statements model. In the Statement of Cash Flows column, use OA to designate operating activity, FA for
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