Raylan received a $63,000 cash advance payment on June 1, Year 1 , for consulting services to be performed in the future, Services Nere to be provided for a one-year term beginning June 1, Year 1 . Required a. \& b. Record the June 1 cash receipt in T-accounts and the adjustment required as of December 31 , Year 1. c. Show the preceding transaction and related adjustment in a horizontal statements model. d. Determine the amount of net income on the Year 1 income statement. What is the amount of net cash flow from operating activities for Year 1? e. What amount of liabilities would Raylan report on the Year 1 balance sheet? Complete this question by entering your answers in the tabs below. Record the June 1 cash receipt in T-accounts and the adjustment required as of December 31, Year 1. (Do not round intermediate calculations. Round your answers to the nearest dollar amount.) Raylan recelved a $63,000 cash advance payment on June 1, Year 1, for consuiting services to be performed in the future. Services were to be provided for a one-year term beginning June 1. Year 1 . Required a. \& b. Record the June 1 cash receipt in T-accounts and the adjustment required as of December 31, Year 1 . c. Show the preceding transaction and related adjustment in a horizontal statements model. d. Determine the amount of net income on the Year 1 income statement. What is the amount of net cash flow from operating activities for Year 1? e. What amount of liabilities would Raylan report on the Year 1 balance sheet? Complete this question by entering your answers in the tabs below. Show the preceding transaction and related adjustment in a horizontal statements model, (Enter any decreases to account balances and cash outflows with a minus Statement of Cash Flows column, use the initials OA to designate operating activity, FA to designate finance activity, IA to designate investing activity and NC for ne Not all cells require input. Round your answers to the nearest dollar.) Required a. \& b. Record the June 1 cash receipt in T-accounts and the adjustment required as of December 31 , Year 1. c. Show the preceding transaction and related adjustment in a horizontal statements model. d. Determine the amount of net income on the Year 1 income statement. What is the amount of net cash flow from operating a for Year 1 ? e. What amount of liabilities would Raylan report on the Year 1 balance sheet? Complete this question by entering your answers in the tabs below. Determine the amount of net income on the Year 1 income statement. What is the amount of net cash flow from operating activities for Year 1 ? (Do not round intermediate calculations. Round your final answers to the nearest dollar amount.) Raylan recelved a $63,000 cash advance payment on June 1, Year 1 , for consulting services to be performed in the were to be provided for a one-year term beginning June 1, Year 1 . Required a. \& b. Record the June 1 cash receipt in T-accounts and the adjustment required as of December 31, Year 1 . c. Show the preceding transaction and related adjustment in a horizontal statements model. d. Determine the amount of net income on the Year 1 income statement. What is the amount of net cash flow from o for Year 1 ? e. What amount of llabilities would Raylan report on the Year 1 balance sheet? Complete this question by entering your answers in the tabs below. What amount of liabilities would Raylan report on the Year 1 balance sheet? (Da not round intermediate calculations, Rou your final answer to the nearest dollar amount.)
