[The following information applies to the questions displayed below.]

Schroder Company earned $22,000 of service revenue on account during 2012. The company collected $15,400 cash from accounts receivable during 2012.

4.

value: 2.00 points

Required information

Required:

Based on this information alone, determine the following.

(a)	Record the events in general ledger accounts under an accounting equation. (Amounts to be deducted should be indicated with a minus sign. Leave no cells blank - be certain to select "0" and "NA" wherever required. Omit the "$" sign in your response.)

Schroder Company Effect of Events on the 2012 Accounting Equation
	Assets			=	Liabilities	+	Stockholders' Equity
Event	Cash	+	Accounts Rec.	=		+	Common Stock	+	Retained Earnings
Earned Revenue	(Click to select)+22,000-22,000NA	+	(Click to select)+22,000-22,000NA	=	(Click to select)+22,000NA-22,000	+	(Click to select)+22,000-22,000NA	+	(Click to select)NA+22,000-22,000
Coll. Acct. Rec.	(Click to select)-15,400+15,400NA	+	(Click to select)-15,400+15,400NA	=	(Click to select)-15,400NA+15,400	+	(Click to select)+15,400NA-15,400	+	(Click to select)NA-15,400+15,400
Ending Balance	(Click to select)-15,4000+15,400	+	(Click to select)-6,6000+6,600	=	(Click to select)-22,0000+22,000	+	(Click to select)-22,000+22,0000	+	(Click to select)-22,0000+22,000

References

eBook & Resources

Summary of Events and General LedgerVertical Statements Model

5.

value: 2.00 points

Required information

(b)	The balance of the accounts receivable that Schroder would report on the December 31, 2012, balance sheet. (Omit the "$" sign in your response.)

Accounts receivable

$

References

eBook & Resources

6.

value: 2.00 points

Required information

(c)	The amount of net income that Schroder would report on the 2012 income statement. (Omit the "$" sign in your response.)

Net income

$

7.

value: 2.00 points

Required information

(d)	The amount of net cash flow from operating activities that Schroder would report on the 2012 statement of cash flows. (Omit the "$" sign in your response.)

Net cash flow

$

References

eBook & Resources

8.

value: 2.00 points

Required information

(e)	The amount of retained earnings that Schroder would report on the 2012 balance sheet. (Omit the "$" sign in your response.)

Retained earnings

$

9.

value: 2.00 points

Required information

(f)	Why are the answers to Parts c and d different? (Omit the "$" sign in your response.)

$ of revenue was earned but only $ of it was collected.

please provide accurate information.