Saved Required information [The following information applies to the questions displayed below. Alcorn Service Company was formed on January 1, 2018. Events Affecting the 2018 Accounting Period 1. Acquired $73,000 cash from the issue of common stock. 2. Purchased $3,800 of supplies on account 3. Purchased land that cost $44,000 cash. 4. Paid $3,800 cash to settle accounts payable created in Event 2 5. Recognized revenue on account of $68,000 6. Paid $34.000 cash for other operating expenses. 7. Collected $51,000 cash from accounts receivable. Information for 2018 Adjusting Entries 8. Recognized accrued salaries of $4,500 on December 31, 2018 9. Had $1.500 of supplies on hand at the end of the accounting period. Events Affecting the 2019 Accounting Period 1. Acquired $33,000 cash from the issue of common stock. 122 of 6 Next > Co search Events Affecting the 2019 Accounting Period 1. Acquired $33,000 cash from the issue of common stock. 2. Paid $4,500 cash to settle the salaries payable obligation 3. Paid $7,500 cash in advance to lease office space. 4. Sold the land that cost $44,000 for $44,000 cash 5. Received $8,700 cash in advance for services to be performed in the future. 6. Purchased $2,300 of supplies on account during the year. 7. Provided services on account of $45,000. 8. Collected $46,000 cash from accounts receivable. 9. Paid a cash dividend of $5,000 to the stockholders. 10. Paid other operating expenses of $32,500. Information for 2019 Adjusting Entries 11. The advance payment for rental of the office space (see Event 3) was made on March 1 for a one-year term. 12. The cash advance for services to be provided in the future was collected on October 1 (see Event 5). The one year contract started on October 1 13. Had $1,600 of supplies remaining on hand at the end of the period 14. Recognized accrued salaries of $5.200 at the end of the accounting period 15. Recognized $1.700 of accrued interest revenue. 1 2 of 6 !!! Next > Search Required information Identify each event affecting the 2018 accounting periods as asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE) under the appropriate general ledger account headings of the accounting equation. (Do not round intermediate calculations. Enter any decreas sign.) ALCORN SERVICE COMPANY Accounting Equation for 2018 Type Assets abilities Event Accounts Event Cash Supplies Prepaid Rent Recolvable Land Accounts Payable Salaries Payable Unearned Revenue Stockholders' Equity Common Retained Stock Earnings 73,000 73.000 3.800 3,8001 WN 44000 (44.000) 3.800) AS AS AE AU AS AU AE CE AU 68.000 68.000 (34000) 34,000) 51,000 - 1 (51,000) 4,500 (1.500) 2300 42 200 17000 0 44.000 = 0 4,500 0 + 73.000 28.000 Preis 12 of 6 Next > ork #5 Help Save & Exit Submit Check my work Required information Record the it balances ALCORN SERVICE COMPANY Accounting Equation for 2019 Liabilities Accounts Prepaid T Event Supplies Receivable Land Interest Receivable 44.000 0 Rent Accounts Salaries Payable Payable op 4.500 Stockholders' Equity Common Retained Stock Earnings 73.000 28.0001 Unearned Revenue 0 17 000 2.300 op = + + 33 000 + 33,000 4.500) (4.500) + 7 500 + (44000 + # + 2.3001 # + 45.000 # + 45 000 (46 000 # + (5000) + # + 32 500) + (7.500) 8.700 + Prev 1 2 of 6 Next > o search AAB 9/22/ Check my work Required information 7.500 (44,000) = aN 45.000 Raa2 15.000 32 500) ( 7500) 8.700 (7500) (1,600) (1.600) (5.200) 124 400 16,000 3,000 00 A 742 PM AGD 9/22/2019 to search