please explain why this is not complete
Pizza Express Inc. began the Year 2 accounting period with $7,500 cash, $5,500 of common stock, and $2,000 of retained earnings. Pizza Express was affected by the following accounting events during Year 2: 1. Purchased $11,000 of supplies on account. 2. Earned and collected $28,000 of cash revenue. 3. Paid $9,500 cash on accounts payable. 4. Adjusted the records to reflect the use of supplies. A physical count indicated that $2,300 of supplies was still on hand on December 31, Year 2 Required a. Show the effects of the events on the financial statements using a horizontal statements model given below. In the Cash Flows column, use OA to designate operating activity. FA for financing activity. IA for investing activity, or NC for net change in cash. If the element is not affected by the event, leave the cell blank. The beginning balances have been entered as on example. (Enter any decreases to account balances and cash outflows with a minus sign. Not all cells will require entry.} * Answer is not complete. PIZZA EXPRESS INC. Effect of Evente on Financial Statements for Year 2 Event Aneete Liabilities + Stockholdere" Equity Income Statement No. Statement of Cash Caeh Supplies Accounts Common Retained Payable Stock Earning a Revenue Expense = Net Income Flows Beg. bal 7,500 5,500 2,000 = 1. 11,000 11,000 + 2. 28,000 28,000 28,000 28,000 28,000 OA 3. (9,500] 1+ (9,500] + (9,500) OA (8,700) 8,700) 8,700 (8,700] Totals 26,000 2,300 1,500 5,500 21,300 28,000 8,700 19,300 18,500Pizza Express Inc. began the Year 2 accounting period with $2,500 cash, $1,400 of common stock, and $1,100 of retained earnings. Pizza Express was affected by the following accounting events during Year 2: 1. Purchased $3,600 of supplies on account. 2. Earned and collected $12,300 of cash revenue. 3. Paid $2.700 cash on accounts payable. 4. Adjusted the records to reflect the use of supplies. A physical count indicated that $250 of supplies was still on hand on December 31, Year 2. Required a. Show the effects of the events on the financial statements using a horizontal statements model given below. In the Cash Flows column, use OA to designate operating activity. FA for financing activity, IA for investing activity, or NC for net change in cash. If the element is not affected by the event, leave the cell blank. The beginning belonces have been entered as on example. (Enter any decreases to account balances and cash outflows with a minus sign. Not all cells will require entry.} PIZZA EXPRESS INC. Effect of Evente on Financial Statements for Year 2 Event Aneate = LIabilities Stockholders Equity Income Statement Statement of Cash No. Cash Supplies E Accounts Common Retalned Payable Stock Earninge Revenue Expense = Net Income Flowe Beg. bal. 2.500 + 1,400 + 1,100 3800 3,800 4 2. 12,300 12,300 12,300 12,300 12 300 DA 3. (2,700] (2,700] DA 4 (3,350] (3,350) 3,350 (3,350) Totals 12, 100 + 250 900 1,400 10.050 12,300 3.350 8.950 12 300
