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Required a. Record each of the preceding events in T-accounts. begin{tabular}{|l|l|l|l|} hline Bog. Bal & & multicolumn{3}{|c|}{ Prepaid Rent } hline & & &

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Required a. Record each of the preceding events in T-accounts. \begin{tabular}{|l|l|l|l|} \hline Bog. Bal & & \multicolumn{3}{|c|}{ Prepaid Rent } \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} The following accounting events apply to Mary's Designs for Year 1: Asset Source Transactions 1. Began operations by acquiring $19,000 of cash from the issue of common stock. 2. Performed services and collected cash of $600. 3. Collected $4,000 of cash in advance for services to be provided over the next 12 months. 4. Provided $13,500 of services on account: 5. Purchased supplies of $370 on account Asset Exchange Transactions 6. Purchased $4,500 of land for cash. 7. Collected $9,000 of cash from accounts receivable. 8. Purchased $550 of supplies with cash. 9. Paid $3,600 for one year's rent in advance. Asset Use Transactions 10. Paid $2,800 cash for salaries of employees. 11. Paid a cash dividend of $1,600 to the stockholders. 12. Paid off $370 of the occounts payable with cash. Claims Exchange Transactions 13. Placed an advertisement in the local newspaper for $120 on account. 14. Incurred utility expense of $90 on account. Adjusting Entries 15. Recognzed $3,000 of revenue for performing services. The collection of cash for these services occurred in a prior transoction. (See Event 3.) 16. Recorded $1,220 of accrued salory expense at the end of Year 1. 17. Recorded supplies expense. Had $115 of supplies on hand at the end of the accounting period. 18. Recognized three months of expense for prepaid rent that had been used up during the occounting period. 4 b. Prepare a before-closing trial balance. c. Use o horizontal statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. The first event is recorded as an example. (Use + to indicate increase, - for decrease, or +/ - for increase and decrease. In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Not all cells require input.)

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