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Please fill in the charts properly Events Affecting 2014: 1. Provided $170,000 of accounting services on account. 2. Collected $127,500 cash from accounts receivable. 3.

Please fill in the charts properly

Events Affecting 2014:

1. Provided $170,000 of accounting services on account.
2. Collected $127,500 cash from accounts receivable.
3. Paid salaries of $28,000 for the year.
4.

Adjusted the accounts to reflect managements expectations that uncollectible accounts expense would be $1,900.

image text in transcribed

image text in transcribed

b-1. Prepare an income statement for 2014 MICHELLE'S ACCOUNTING SERVICE Income Statement For the Year Ended December 31, 2014 ervice revenue $ 170,000 Operating expenses Service revenue Salaries expense Uncollectible accounts expense $170,000 (28,000) (1,900) Total operating expenses 140,100 et income b-2. Prepare a balance sheet for 2014 MICHELLE'S ACCOUNTING SERVICE Balance Sheet As of December 31, 2014 Assets Cash Accounts receivable Total assets Liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity

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