rose company performed services on account for $30,000 in year 1, its first year of operations. Rose collected $24,000 cash from accounts receivable during year 1 and the remaining $6,000 in cash during year 2. required: A. Record the year 1 transaction in T-accounts; E. Open a T-account for retained earnings, and close year 1 service revenue account to the retained earnings account. F. Record year 2 cash collection in the appropriate T-accounts. B. Show year 1 transactions in a horizontal statements model like the following one: G. Show year 2 transaction in a horizontal statements model like shown in B. C. Determine the ammount of revenue that would be reported on the year 1 income statement. D. Determine the amount of cash flow from operating activites that would be reported on the Year 1 statement of cash flows. H. Assuming no other tranactions occur in year 2,, determine the amount of net income and the net cash flow from operating activites for year 2.

Assets						Stockholders Equity
Cash			Accounts Rec			Retained Earnings
Year 1			Year 1
Year 2			Year 2			Service Revenue

B and G:

#	Cash	Accts Rec	Liability	Comm Stock	Ret Earn	Revenue	Expense	Net Inc	Cash Flow
Yr 1:
1
2
Bal
Yr 2:
3
Bal