Required information The following information applies to the questions displayed below The following transactions pertain to Accounting Solutions Inc Assume the transactions for the purchase of the computer and any capital improvements occur on January 1 each year 2018 Acquired $80,000 cash from the issue of common stock Purchased a computer system for $35,000 It has an estimated useful life of five years and a $5,000 salvage value Paid $2,450 sales tax on the computer system Collected $65,000 in fees from clients Paid $1,500 in fees for routine maintenance to service the computers Recorded double declining balance depreciation on the computer system for 2018 2019 Paid $1,000 for repairs to the computer system Bought off site backup services to maintain the computer system, $1,500 Collected $68,000 in fees from clients Paid $1,500 in fees to service the computers Recorded double declining balance depreciation for 2019 2020 Paid $6,000 to upgrade the computer system, which extended the total life of the system to six years The salvage value did not change Paid $1,200 in fees to service the computers Collected $70,000 in fees from clients Recorded double declining balance depreciation for 2020 Record the above transactions in a horizontal statements model like the following one (In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), a financing activity (FA) and net change in cash (NC) The letters NA indicate that an element is not affected by the event Enter any decreases to account balances and cash outflows with a minus sign )

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Required information [ The following information applies to the questions displayed below .] The following transactions pertain to Accounting Solutions Inc. Assume the transactions for

Required information

[The following information applies to the questions displayed below.]

The following transactions pertain to Accounting Solutions Inc. Assume the transactions for the purchase of the computer and any capital improvements occur on January 1 each year.

2018

Acquired $80,000 cash from the issue of common stock.
Purchased a computer system for $35,000. It has an estimated useful life of five years and a $5,000 salvage value.
Paid $2,450 sales tax on the computer system.
Collected $65,000 in fees from clients.
Paid $1,500 in fees for routine maintenance to service the computers.
Recorded double-declining-balance depreciation on the computer system for 2018.

2019

Paid $1,000 for repairs to the computer system.
Bought off-site backup services to maintain the computer system, $1,500.
Collected $68,000 in fees from clients.
Paid $1,500 in fees to service the computers.
Recorded double-declining-balance depreciation for 2019.

2020

Paid $6,000 to upgrade the computer system, which extended the total life of the system to six years. The salvage value did not change.
Paid $1,200 in fees to service the computers.
Collected $70,000 in fees from clients.
Recorded double-declining-balance depreciation for 2020.

Record the above transactions in a horizontal statements model like the following one. (In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), a financing activity (FA) and net change in cash (NC). The letters NA indicate that an element is not affected by the event. Enter any decreases to account balances and cash outflows with a minus sign.)