The following information applies to the questions displayed below) Leach Inc, experienced the following events for the first two years of its operations: 2018 1. Issued $10,000 of common stock for cash. 2. Provided $90,000 of services on account. 3. Provided $31,000 of services and received cash. 4. Collected $59,000 cash from accounts receivable. 5. Paid $18,000 of salaries expense for the year. 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 8 percent of the ending accounts receivable balance will be uncollectible. 2019: 1. Wrote off an uncollectible account for $680. 2. Provided $110,000 of services on account. 3. Provided $20,000 of services and collected cash. 4. Collected $92,000 cash from accounts receivable, 5. Paid $26,000 of salaries expense for the year. 6. Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 8 percent of the ending accounts receivable balance will be uncollectible. d-1. Organize the transaction data in accounts under an accounting equation d-2. Prepare an income statement for 2019 d-3. Prepare the statement of changes in stockholders' equity for 2019. d-4. Prepare the balance sheet for 2019. d-5. Prepare the statement of cash flows for 2019 d-6. What is the net realizable value of the accounts receivable at December 31, 2019? Complete this question by entering your answers in the tabs below. Reg D1 Req D2 Req D3 Req D4 ReqD5 Req D6 Organize the transaction data in accounts under an accounting equation. (Enter any decreases to account balances with a minus sign. If there is no effec Titles for Retained Eamings, leave the cell blank.) Event LEACH INC. Accounting Equation for the Year 2019 Assets Equity Accounts Liabilities - Allowance Common Retained Receivable stock Earnings 31,000 - 2,480 10,000 + 100,520 (680) - (680) Accounting Titles for Retained Earnings Cash Bal. 82,000+ 110,000 - 110,000 Service revenue 20,000 Service revenue 20,000+ 92,000+ (26,000) + (92,000) - (26,000) Salaries expense Uncollectible accounts expense 204,520 Bal. 168,000 + 48,320 - 0 + 10.000 + The following information applies to the questions displayed below) Leach Inc, experienced the following events for the first two years of its operations: 2018 1. Issued $10,000 of common stock for cash. 2. Provided $90,000 of services on account. 3. Provided $31,000 of services and received cash. 4. Collected $59,000 cash from accounts receivable. 5. Paid $18,000 of salaries expense for the year. 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 8 percent of the ending accounts receivable balance will be uncollectible. 2019: 1. Wrote off an uncollectible account for $680. 2. Provided $110,000 of services on account. 3. Provided $20,000 of services and collected cash. 4. Collected $92,000 cash from accounts receivable, 5. Paid $26,000 of salaries expense for the year. 6. Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 8 percent of the ending accounts receivable balance will be uncollectible. d-1. Organize the transaction data in accounts under an accounting equation d-2. Prepare an income statement for 2019 d-3. Prepare the statement of changes in stockholders' equity for 2019. d-4. Prepare the balance sheet for 2019. d-5. Prepare the statement of cash flows for 2019 d-6. What is the net realizable value of the accounts receivable at December 31, 2019? Complete this question by entering your answers in the tabs below. Reg D1 Req D2 Req D3 Req D4 ReqD5 Req D6 Organize the transaction data in accounts under an accounting equation. (Enter any decreases to account balances with a minus sign. If there is no effec Titles for Retained Eamings, leave the cell blank.) Event LEACH INC. Accounting Equation for the Year 2019 Assets Equity Accounts Liabilities - Allowance Common Retained Receivable stock Earnings 31,000 - 2,480 10,000 + 100,520 (680) - (680) Accounting Titles for Retained Earnings Cash Bal. 82,000+ 110,000 - 110,000 Service revenue 20,000 Service revenue 20,000+ 92,000+ (26,000) + (92,000) - (26,000) Salaries expense Uncollectible accounts expense 204,520 Bal. 168,000 + 48,320 - 0 + 10.000 +
