Waddell Company had the following balances in its accounting records as of December 31, 2018: Assets Cash Accounts Receivable Land Totals $ 52,000 53,000 27,000 $132,000 Liabilities and Equity Accounts Payable Common Stock Retained Earnings $ 23,000 93,000 16,000 $132,000 The following accounting events apply to Waddell Company's 2019 fiscal year: Jan. Feb. 1 1 Mar. April May July 1 1 1 1 1 Sept. Oct. Dec. 1 31 31 Acquired $42,000 cash from the issue of common stock. Paid $5,700 cash in advance for a one-year lease for office space. Paid a $2,700 cash dividend to the stockholders. Purchased additional land that cost $27,000 cash. Made a cash payment on accounts payable of $9,000. Received $7,000 cash in advance as a retainer for services to be performed monthly over the coming year. Sold land for $22,000 cash that had originally cost $22,000. Purchased $950 of supplies on account. Earned $60,000 of service revenue on account during the year. Received cash collections from accounts receivable amounting to $57,000. Incurred other operating expenses on account during the year that amounted to $12,000. Recognized accrued salaries expense of $5,300. Had $160 of supplies on hand at the end of the period. The land purchased on April i had a market value of $38,000. Recognized $125 of accrued interest revenue. 31 31 31 31 31 Required Based on the preceding Information, answer the following questions for Waddell Company. All questions pertain to the 2018 financial statements. (Hint: Enter items in general ledger accounts under the accounting equation before answering the questions.) a. What two additional adjusting entries need to be made at the end of the year? b. What amount would Waddell report for land on the balance sheet? c. What amount of net cash flow from operating activities would be reported on the statement of cash flows? (Enter cash outflows as negative amounts.) d. What amount of rent expense would be reported on the income statement? (Do not round intermediate calculations.) e. What amount of total liabilities would be reported on the balance sheet? f. What amount of supplies expense would be reported on the income statement? g. What amount of unearned revenue would be reported on the balance sheet? (Do not round intermediate calculations.) h. What amount of net cash flow from investing activities would be reported on the statement of cash flows? (Enter cash outflows as negative amounts.) 1. What amount of total expenses would be reported on the income statement? (Do not round Intermediate calculations.) J. What total amount of service revenue would be reported on the income statement? (Do not round intermediate calculations.) k. What amount of cash flows from financing activities would be reported on the statement of cash flows? (Enter cash outflows as negative amounts.) 1. What amount of net income would be reported on the income statement? (Do not round intermediate calculations.) m. What amount of retained earnings would be reported on the balance sheet? (Do not round Intermediate calculations.) Based on the preceding information, answer the following questions for Waddell Company. All questions pertain to the 2019 financial statements. (Hint: Enter items in ger equation before answering the questions.) (Do not round Intermediate calculations. Enter any decreases to account balances with a minus sign.) WADDELL COMPANY Accounting Equation Date Cash Accounts Assets Supplies Recevable Prepaid Rent Interest Receivable Land Accounts Payable Liabilities Salaries Payable Unearned Revenue Stockholders' Equity Common Retained Stock Earnings + Bal Jan. 1 + + + Feb. 1 Mar. 1 April 1 May 1 July 1 Sept 1 Oct. 1 Dec. 31 Dec. 31 Dec 31 Dec. 31 Dec 31 Dec. 31 Dec. 31 Dec 31 Dec 31 Bal. 0 0 0 ReGA > Accounting Equation Req A Req B to M What two additional adjusting entries need to be made at the end of the year? (Select which of the following statements (is) are true by selecting an "X") Feb. 1. prepaid rent June 1, cash dividends to stockholders Aug. 1, cash payment; accounts payable July 1, unearned revenue; cash was received in advance Oct. 1. purchases on account Dec. 31, accrued salaries expenso (Accounting Equation Req Oto M > Complete this question by entering your answers in the tabs below. Accounting Equation Req A Req B to M Refer the income statement, cash flow Statement, balance sheet and answer question B to M. b. Land c. Net cash flow from operating activities d. Rent expense e. Total liabilities f. Supplies expense g. Unearned revenue h. Net cash flow from investing activities i. Total expenses j. Service revenue k. Cash flows from financing activities I. Net income m. Retained earnings