Question 1.

Question 2

Holloway Company earned $6,300 of service revenue on account during Year 1 . The company collected $5,355 cash from accounts receivable during Year 1. Required Based on this information alone, determine the following for Holloway Company. (Hint: Record the events in general ledger accounts under an accounting equation before satisfying the requirements.) (Enter any decreases to account balances with a minus sign.) a. The balance of the accounts receivable that would be reported on the December 31, Year 1 , balance sheet. b. The amount of net income that would be reported on the Year 1 income statement. c. The amount of net cash flow from operating activities that would be reported on the Year 1 statement of cash flows. d. The amount of retained earnings that would be reported on the Year 1 balance sheet. Answer is not complete. Complete this question by entering your answers in the tabs below. Based on this information alone, determine the following for Holloway Company. (Hint: Record the events in general ledger accounts unde an accounting equation before satisfying the requirements.) (Enter any decreases to account balances with a minus sign.) [The following information applies to the questions displayed below.] Milea Inc. experienced the following events in Year 1 , its first year of operations: 1. Received $13,500 cash from the issue of common stock. 2. Performed services on account for $45,000. 3. Paid the utility expense of $1,450. 4. Collected $36,670 of the accounts receivable. 5. Recorded $7,350 of accrued salaries at the end of the year. 6. Paid a $1,450 cash dividend to the stockholders. Required a. Record the events in general ledger accounts under an accounting equation. In the last column of the table, provide appropriate account titles for the Retained Earnings amounts. The first transaction has been recorded as an example. (Select "NA" if there is no effect on the "Accounts Titles for Retained Earnings". Enter any decreases to account balances with a minus sign.)