Return to questo Events Affecting Year 2 1. Wrote off a $239 account receivable that was determined to be uncollectible, 2. Provided $37,192 of cleaning services on account. 3. Collected $32,915 cash from accounts receivable 4. Adjusted the accounting records to reflect the estimate that uncollectible accounts exponse would be 1 percent of the cleaning revenue on account Required a. Organize the transaction data in accounts under an accounting equation for each year. b. Determine the following amounts: (1) Net income for Year 1. (2) Net cash flow from operating activities for Year 1. (3) Balance of accounts receivable at the end of Year 1 (4) Not realizable value of accounts receivable at the end of Year 1, c. Determine the following amounts: (1) Net income for Year 2 (2) Net cash flow from operating activities for Year 2 (3) Balance of accounts receivable at the end of Year 2 (4) Net realizable value of accounts receivable at the end of Year 2 Answer is not complete Complete this question by entering your answers in the tabs below. Pen (4) Net realizable value of accounts receivable at the end of Year 2. Answer is not complete. Complete this question by entering your answers in the tabs below. Req A1 Reg A2 ReqB Reqc Organize the transaction data in accounts under an accounting equation for Year 1. (Enter any decreases to account balances with a minus sign. Not all cells require input.) Account Titles for Retained Earnings Event Cash ROSIE DRY CLEANING Accounting Equation for Year 1 Balance Sheet Assets Liabilities Equity NRV Retained Accounts Receivable Earnings 31,870 31,870 (25,496) + + (319) (319) 6,374 (319) + 31,551 Service revenue 1. 2. 25,496 Uncollectible accounts expense 3 25,496 Bal. + Reg A2 > Answer is not complete. 1 Complete this question by entering your answers in the tabs below. Req A1 ReqA2 Reg B Reqc Organize the transaction data in accounts under an accounting equation for Year 2. (Enter any decreases to account balances minus sign. Not all cells require input.) ROSIE DRY CLEANING Accounting Equation for Year 2 Balance Sheet Assets Liabilities Equity NRV Retained Accounts Earnings Receivable Account Titles for Retained Earnings Event B Cash Bal. + 239 X + + 1. + 37,192 Service revenue (239) 37,192 (32,915) = 2 4 II 3 32,915 + + (372) + Uncollectible accounts expense 4. (372) 36,820 (133) + 4,038 II + 32,915 Bal 2 of 3 I! Next > x Answer is Complete this question by entering your answers in the Req A1 Req A2 Req B Req C Determine the following amounts for the Year 1 accounting per Net income Net cash flow from operating activities Balance of accounts receivable Net realizable value of accounts receivable $ 31,498 X $ 25,496 $ 6,374 6,002 X $ Answer is not complete. 1 Complete this question by entering your answers in the tabs below. Req A1 ReqA2 Reg B Reqc Organize the transaction data in accounts under an accounting equation for Year 2. (Enter any decreases to account balances minus sign. Not all cells require input.) ROSIE DRY CLEANING Accounting Equation for Year 2 Balance Sheet Assets Liabilities Equity NRV Retained Accounts Earnings Receivable Account Titles for Retained Earnings Event B Cash Bal. + 239 X + + 1. + 37,192 Service revenue (239) 37,192 (32,915) = 2 4 II 3 32,915 + + (372) + Uncollectible accounts expense 4. (372) 36,820 (133) + 4,038 II + 32,915 Bal 2 of 3 I! Next > x Answer is Complete this question by entering your answers in the Req A1 Req A2 Req B Req C Determine the following amounts for the Year 1 accounting per Net income Net cash flow from operating activities Balance of accounts receivable Net realizable value of accounts receivable $ 31,498 X $ 25,496 $ 6,374 6,002 X $
