Yard Designs (YD) experienced the following events in Year 1, its first year of operation: 1. On October 1, Year 1, YD collected $54,000 for consulting services it agreed to provide during the coming year." 2. Adjusted the accounts to reflect the amount of consulting service revenue recognized in Year 1. Required Based on this information alone: a. Record the events under an accounting equation. b. Prepare an income statement, balance sheet, and statement of cash flows for the Year 1 accounting period. c. Ignoring all other future events, what is the amount of service revenue that would be recognized in Year 2? Complete this question by entering your answers in the tabs below. Req A Req B Inc. Stmt Req B Bal Sheet Req B Stmt of Cash Flows Prepare a statement of cash flows for the Year 1 accounting period. (Do not round intermediate calculations. Amounts to be deducted should be indicated with a minus sign.) YARD DESIGNS Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities: Cash from accounts receivable Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities: Net change in cash $ 13,500 $ Req C 9 13,500 $13,500 40 500 Prev 2 of 4 B Next >

Yard Designs (YD) experienced the following events in Year 1, its first year of operation: 1. On October 1, Year 1, YD collected $54,000 for consulting services it agreed to provide during the coming year: 2. Adjusted the accounts to reflect the amount of consulting service revenue recognized in Year 1 . Required Based on this information alone: a. Record the events under an accounting equation. b. Prepare an income statement, balance sheet, and statement of cash flows for the Year 1 accounting period. c. Ignoring all other future events, what is the amount of service revenue that would be recognized in Year 2? Complete this question by entering your answers in the tabs below. Prepare a statement of cash flows for the Year 1 accounting period. (Do not round intermediate calculations, Amounts to be deducted should be inoicated with a minus sign.) Complete this question by entering your answers in the tabs below. Prepare a statement of cash fiows for the Year 1 accounting period. (Do not round intermediate calculations. Amounts to be deducted should be indicated with a minus sign.) Yard Designs (YD) experienced the following events in Year 1, its first year of operation: 1. On October 1, Year 1, YD collected $54,000 for consulting services it agreed to provide during the coming year: 2. Adjusted the accounts to reflect the amount of consulting service revenue recognized in Year 1 . Required Based on this information alone: a. Record the events under an accounting equation. b. Prepare an income statement, balance sheet, and statement of cash flows for the Year 1 accounting period. c. Ignoring all other future events, what is the amount of service revenue that would be recognized in Year 2? Complete this question by entering your answers in the tabs below. Prepare a statement of cash flows for the Year 1 accounting period. (Do not round intermediate calculations, Amounts to be deducted should be inoicated with a minus sign.) Complete this question by entering your answers in the tabs below. Prepare a statement of cash fiows for the Year 1 accounting period. (Do not round intermediate calculations. Amounts to be deducted should be indicated with a minus sign.)