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Waddell Company had the following balances in its accounting records as of December 31, Yeart $7.500 Assets Cash Accounts receivable Land Total 535,000 9,000 51.000 $95.000 Liabilities and Stk. Tity Accounts payable Corner steek Retained earnings Total The following accounting events apply to Waddell Company's Year 2 fiscal year. Jan. 1 Acquired $20,000 cash from the issue of common stock. 1 raid a $2,000 cash dividend to the stockholders. Ayril Perchased additional land that cont $15.99 ean. May 1 Hade a cash payment on accounts payable of s5.500. Sept. 1 sold land for $20,000 cash that had originally cost $30,000 Doc. Carned $50,000 of service revenue on account during the year. 31 Received cash collections from accounts receivable conting to sus .. 3: Incurred other operating expenses en account during the year aber sosted te 328,000. 3: The land purchased on April had a market value of $20,000. Required Show the effects of the events on the financial Statements using the following horizontal statements model in the Cash Flow column use OA to designate operating activity, IA for investment activity. FA for financing activity, and NC for net change in cash. a. What amount would Waddell report for and on the balance sheet? b. What amount of net cash flow from operating activities would be reported on the statement of cash flows? c. What amount of total abilities would be reported on the balance sheet? d. What amount of net cash flow from investing activities would be reported on the statement of cash flows? e. What amount of total expenses would be reported on the income statement? 1. What amount of service revenue would be reported on the income statement? g. What amount of cash flows from financing activities would be reported on the statement of cash flows? h. What amount of net income would be reported on the income statement? L. What amount of retained earnings would be reported on the balance sheet? Complete this question by entering your answers in the tabs below. Accounting Equation Ren A tot a. What amount would Waddell report for land on the balance sheet? b. What amount of net cash flow from operating activities would be reported on the statement of cash flows? c. What amount of total liabilities would be reported on the balance sheet? d. What amount of net cash flow from investing activities would be reported on the statement of cash flows e. What amount of total expenses would be reported on the income statement? 1. What amount of service revenue would be reported on the income statement? 9. What amount of cash flows from financing activities would be reported on the statement of cash flows? R. What amount of net income would be reported on the income statement 1. What amount of retained carnings would be reported on the balance sheet? Show less a Land B. Net cash flow from operating activities Totalbes d. Net cash flow from investing activities 0 Total expenses 1. Total revenue 9 Cash flows from financing actvities Net income Retained eaming Accounting Equation Waddell Company had the following balances in its accounting records as of December 31. Year 1 Assets Cash Accounts receivable Land Total $35,000 9,000 51.000 $95.000 Liabilities and stk. Iquity Accounts payable Common stock Retained earnings $ 7,500 40,000 47,500 $95,000 Total The following accounting events apply to Waddell Company's Year 2 fiscal year: 1 Acquired $20,000 cash from the insue of common stock. xar. 1 Paid a $2,000 can dividend to the stockholders April 1 Parehased additional land that cont $15,000 canh. May Made a cash payment on accounts payable of $3,500. Sept. Sold land for 530,000 cash that had originally cost $30,000. Doc. 3. Earned $58,000 of service revenue on account during the year. Received cash collections from accounts receivable amounting to $46,000. 31 Ineurred other operating expense on account during the year that anounted to $20,000. 3. The land purchased on April had a market value of $20,000. Required Show the effects of the events on the financial statements using the following horizontal statements model. In the Cash Flow column. use OA to designate operating activity, IA for investment activity, FA for financing activity, and NC for net change in cash. a. What amount would Waddell report for land on the balance sheet? b. What amount of net cash flow from operating activities would be reported on the statement of cash flows? c. What amount of total liabilities would be reported on the balance sheet? d. What amount of net cash flow from investing activities would be reported on the statement of cash flows? e. What amount of total expenses would be reported on the income statement? f. What amount of service revenue would be reported on the income statement? 9. What amount of cash flows from financing activities would be reported on the statement of cash flows? h. What amount of net income would be reported on the income statement? 1. What amount of retained earnings would be reported on the balance sheet? Complete this question by entering your answers in the tabs below. Accounting Equation Reg A to 1 a. What amount would Waddell report for land on the balance sheet? b. What amount of net cash flow from operating activities would be reported on the statement of cash flows? c. What amount of total liabilities would be reported on the balance sheet? d. What amount of net cash flow from investing activities would be reported on the statement of cash flows? e. What amount of total expenses would be reported on the income statement? f. What amount of service revenue would be reported on the income statement? 9. What amount of cash flows from financing activities would be reported on the statement of cash flows? h. What amount of net income would be reported on the income statement? 1. What amount of retained earnings would be reported on the balance sheet? Show less D. c. d. e. Land Net cash flow from operating activities Total liabetes Net cash flow from investing activities Total expenses Total revenue Cash flows from financing activities Net income Retained earnings 9. h