Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

what am i missing? it says it is incomplete Problem 2-39A Show how the events affect the financial statements using a horizontal statements model LO

image text in transcribed
image text in transcribed
what am i missing? it says it is incomplete
Problem 2-39A Show how the events affect the financial statements using a horizontal statements model LO 2-8 The following events pertain to Super Cleaning Company 1. Acquired $15,900 cash from the issue of common stock, 2. Provided $13,900 of services on account. 3. Provided services for $4,900 cash. 4. Received $3,300 cash in advance for services to be performed in the future 5. Collected $9,900 cash from the account receivable created in Event 2. 6. Paid $5,900 for cash expenses. 7. Performed $1650 of the services agreed to in Event 4 8. Incurred $2,400 of expenses on account 9. Paid $1,550 cash in advance for one-year contract to rent office space. 10. Pald $2,050 cash on the account payable created in Event 8. 11. Pald a $2,400 cash dividend to the stockholders. 12. Recognized rent expense for nine months' use of office space acquired in Event 9. Required: Show the effects of the events on the financial statements using a horizontal statements model like the following one. In the Cash Flows column, use the letters OA to designate operating activity, IA for investing activity, FA for financing activity, and NC for net change in cash. Use NA to indicate accounts not affected by the event. The first event is shown as an example. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar. Enter any decreases to account balances and cash outflows with a minus sign.) Answer is not complete. ANEWEIG NUL SUPER CLEANING COMPANY Efect of on the Financial Stats cone Statement Expenses Baten of Cash Flows Net wome Heren Assets ACCOU Receive Evert Na Stockholdere City Common Hened Sin aming Limites Ats Learned Payobile even . Prepaid Rani ca 15.900 . TA NA O 15.500 + 15.00 4,00 13.00 12.000 4,000 13,000 400 1 2 3 4 5 0 25 . - 4.500 3.300 9.900 05.00 + . ome 59330 15.00 1.650 AD . 1.00 1.00 (AD 1600 6,900 OK 3. JOAG 3.200 IOA SOA NA Indo (1510 OR 2.050) ON 24 FA NA 2,400 2.4001 . . - ESPOO 1580- OOO . 2010 1.650 (2.00 12.4001 . + 240 12 1.163 9483 11.10 10. H. - 20450 006 ZZ 160 1.100 8187 4.000 . 567 22.100

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Holding Company Audit Compliance And Risk Management

Authors: Anthony Ludovic Assassa

1st Edition

6206122727, 978-6206122722

More Books

Students also viewed these Accounting questions

Question

Explain basic guidelines for effective multicultural communication.

Answered: 1 week ago

Question

Identify communication barriers and describe ways to remove them.

Answered: 1 week ago

Question

Explain the communication process.

Answered: 1 week ago