The following transactions pertain to Accounting Solutions Inc 2018 Acquired $69,000 cash from the issue of common stock Purchased a computer system for $25,100 It has an estimated useful life of five years and a $2,480 salvage value Paid $1,900 sales tax on the computer system Collected $32,550 in fees from clients Paid $1,340 in fees for routine maintenance to service the computers Recorded double declining balance depreciation on the computer system for 2018 2019 Paid $740 for repairs to the computer system Bought off site backup services to maintain the computer system, $1,230 Collected $35,550 in fees from clients Paid $890 in fees to service the computers Recorded double declining balance depreciation for 2019 2020 Paid $3,400 to upgrade the computer system, which extended the total life of the system to six years The salvage value did not change Paid $840 in fees to service the computers Collected $33,270 in fees from clients Recorded double declining balance depreciation for 2020 Required A Record the above transactions in a horizontal statements model like the following one (In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), a financing activity (FA) and net change in cash (NC) If an element is not affected by the event, leave the cell blank Enter any decreases to account balances and cash outflows with a minus sign ) ACCOUNTING SOLUTIONS INC Horizontal Statements Model 2018 Event 2018 Balance Sheet Income Statement Statement of Cash Flow Assets Stockholders Equity Revenue Expense Net Income Cash Equipment Accumulated Depreciation Common Stock Retained Earnings 1 not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted 2 not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted 3 not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted 4 not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted 5 not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted 6 not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted Bal 0 0 0 0 0 0 0 0 0 ACCOUNTING SOLUTIONS INC Horizontal Statements Model 2019 Event 2019 Balance Sheet Income Statement Statement of Cash Flow Assets Stockholders Equity Revenue Expense Net Income Cash Equipment Accumulated Depreciation Common Stock Retained Earnings Bal not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted 1 not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted 2 not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted 3 not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted 4 not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted 5 not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted not attempted Bal 0 0 0 0 0 0 0 0 0 horizontal statements model 2020

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The following transactions pertain to Accounting Solutions Inc. 2018 Acquired $69,000 cash from the issue of common stock. Purchased a computer system for $25,100. It

The following transactions pertain to Accounting Solutions Inc.

2018

Acquired $69,000 cash from the issue of common stock.
Purchased a computer system for $25,100. It has an estimated useful life of five years and a $2,480 salvage value.
Paid $1,900 sales tax on the computer system.
Collected $32,550 in fees from clients.
Paid $1,340 in fees for routine maintenance to service the computers.
Recorded double-declining-balance depreciation on the computer system for 2018.

2019

Paid $740 for repairs to the computer system.
Bought off-site backup services to maintain the computer system, $1,230.
Collected $35,550 in fees from clients.
Paid $890 in fees to service the computers.
Recorded double-declining-balance depreciation for 2019.

2020

Paid $3,400 to upgrade the computer system, which extended the total life of the system to six years. The salvage value did not change.
Paid $840 in fees to service the computers.
Collected $33,270 in fees from clients.
Recorded double-declining-balance depreciation for 2020.

Required

A. Record the above transactions in a horizontal statements model like the following one. (In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), a financing activity (FA) and net change in cash (NC). If an element is not affected by the event, leave the cell blank. Enter any decreases to account balances and cash outflows with a minus sign.)

ACCOUNTING SOLUTIONS INC.

Horizontal Statements Model - 2018

Event 2018

Balance Sheet

Income Statement

Statement of Cash Flow

Assets

Stockholders Equity

Revenue

Expense

Net Income

Cash