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The following information apples to the questions displayed below.,J Alabama Service Company was formed on January 1, 2014 Events Affecting the 2014 Accounting Perlod 1.
The following information apples to the questions displayed below.,J Alabama Service Company was formed on January 1, 2014 Events Affecting the 2014 Accounting Perlod 1. Acquired cash of $80,000 from the Issue of common stock. 2. Purchased $5,200 of supplies on account. 3. Purchased land that cost $58,000 cash. 4. Pald $2,800 cash to settle accounts payable created In Event 2. 5. Recognized revenue on account of $82,000. 6. Pald $41,000 cash for other operating expenses. 7. Collected $58,000 cash from accounts recelvable Information for 2014 Adjusting Entries 8. Recognized accrued salaries of $5,200 on December 31, 2014 9. Had $2,200 of supplies on hand at the end of the accounting perlod Events Affecting the 2015 Accounting Perlod 1. Acqulred an additional $40,000 cash from the Issue of common stock. 2. Pald $5,200 cash to settle the salarles payable obligation. 3. Pald $9,600 cash In advance for a lease on offlce facilltles 4. Sold land that had cost $35,000 for $35,000 cash. 5. Recelved $10,800 cash In advance for services to be performed In the future 6. Purchased $3,000 of supplies on account during the year 7. Provided services on account of $52,000 8. Collected $53,000 cash from accounts recelvable 9. Pald a cash dividend of $6,000 to the stockholders 10. Pald other operating expenses of $39,500 Information for 2015 Adjusting Entrles 11. The advance payment for rental of the office facilities (see Event 3) was made on March 1 for a one-year lease 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 October 1. 13. Had $2,300 of supplies on hand at the end of the perlod 14. Recognized accrued salarles of $5,900 at the end of the accounting period. 15. Recognized $2,400 of accrued Interest revenue
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