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please help so i can see all of the answer !! Holmes Cleaning Service began operation on January 1, Year 1. The company experienced the
please help so i can see all of the answer !!
Holmes Cleaning Service began operation on January 1, Year 1. The company experienced the following events for its first year of operations: Events Affecting Year 1: 1. Provided $120,000 of cleaning services on account 2. Collected $90,000 cash from accounts receivable, 3. Pald salaries of $40,000 for the year 4. Adjusted the accounts to reflect management's expectations that uncollectible accounts expense would be $1,900. The expense was determined using the percent of revenue method. Required a. Organize the transaction dato in accounts under an accounting equation b. Prepare an income statement, a balance sheet , and a statement of cash flows for Year 1, Complete this question by entering your answers in the tabs below. Rega Reg 01 Reg 02 Reg Prepare a statement of cash flows for Year 1. (Amounts to be deducted should be indicated with a minus sign.) HOLMES CLEANING SERVICE Statement of Cash Flows Reg A Req B1 Req B2 Req B3 Organize the transaction data in accounts under an accounting equation. (Enter any decreases to account balances w Not all cells require input.) Event Balance Sheet Assets Liabilities NRV Accounts Receivable Equity Retained Earnings Account Titles for Retained Earnings Cash Year 1 1 2 3 ++++ 4 Bal O 0 ReqA Req B1 > Complete this question by entering your answers in the tabs below. Req A Req B1 Req B2 Req B3 Prepare an income statement for Year 1. HOLMES CLEANING SERVICE Income Statement For the Year Ended December 31, Year 1 V Operating expenses Total operating expenses 0 0 Complete this question by entering your answers in the tabs below. Req A Req B1 Req B2 Req B3 Prepare a balance sheet for Year 1. HOLMES CLEANING SERVICE Balance Sheet As of December 31, Year 1 Assets 0 $ 0 Total assets Liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity $ Req A Req B1 Req B2 Req B3 Prepare a statement of cash flows for Year 1. (Amounts to be deducted should be indicated w HOLMES CLEANING SERVICE Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities $ 0 Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Net change in cash 0 Ending cash balance $ 0 Step by Step Solution
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