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Saved The following information applies to the questions displayed below] Alcor Service Company was formed on January 1, 2018. Events Affecting the 2018 Accounting Period

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Saved The following information applies to the questions displayed below] Alcor Service Company was formed on January 1, 2018. Events Affecting the 2018 Accounting Period 1. Acquired $78,000 cash from the issue of common stock. 2. Purchased $4,800 of supplies on account. 3. Purchased land that cost $54,000 cash. 4. Paid $4,800 cash to settle accounts payable created in Event 2. 5. Recognized revenue on account of $78,000. 6. Paid $39,000 cash for other operating expenses. 7. Collected $56,000 cash from accounts receivable. Information for 2018 Adjusting Entries 8. Recognized accrued salaries of $5,000 on December 31, 2018. 9. Had $2,000 of supplies on hand at the end of the accounting period Events Affecting the 2019 Accounting Period 1. Acquired $38,000 cash from the issue of common stock. 2. Pald $5,000 cash to settle the salaries payable obligation. 1 2 of 6 ' 0 9 P9 Saved Events Affecting the 2019 Accounting Period 1. Acquired $38,000 cash from the issue of common stock. 2. Paid $5,000 cash to settle the salaries payable obligation 3. Paid $9.000 cash in advance to lease office space. 4. Sold the land that cost $54,000 for $54,000 cash. 5. Received $10,200 cash in advance for services to be performed in the future. 6. Purchased $2,800 of supplies on account during the year. 7. Provided services on account of $50,000. 8. Collected $51,000 cash from accounts receivable. 9. Paid a cash dividend of $4,000 to the stockholders 10. Paid other operating expenses of $37,500. 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-yea contract started on October 1. 13. Had $2,100 of supplies remaining on hand at the end of the period. 14. Recognized accrued salaries of $5.700 at the end of the accounting period. 15. Recognized $2,200 of accrued interest revenue. PAN 12 of 6 Next > #5 Saved Help Required information ALCORN SERVICE COMPANY Accounting Equation for 2018 Event Type of Event AS AS Assets Accounts Receivable Supplies Prepaid Rent abilities Salaries Payable Cash 38.000 Land Accounts Payable Stockholders' Equi Common Retaine Stock ning Unearned Revenue AE AU AE CE AU Totals (16.000) 0 0 0 000 + Acc Equ 2019 > Prev 1 2 of 6 !!! Next > Search Required information ALCORN SERVICE COMPANY Accounting Equation for 2019 Type Assets Event of Cash Accounts Event Prepaid Liabilities Salaries Payable Supplies Stockhol Common Stock Land Receivable Interest Receivable Accounts Payable Rent Unearned Revenue Bal. AWN- 0 - 1111111111111

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