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Yard Designs (YD) experienced the following events in Year 1. its first year of operation: 1. On October 1. Year 1, YD collected $24,000 for

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Yard Designs (YD) experienced the following events in Year 1. its first year of operation: 1. On October 1. Year 1, YD collected $24,000 for consulting services it agreed to provide during the next 12 months. 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? C. Ignoring all other future events, what is the amount of service fevenue that Complete this question by entering your answers in the tabs below. Reqa Req B1 Inc Stmt Req B2 Bal Sheet Req B3 CF Stmt Reqc Record the events under an accounting equation. (Do not round intermediate ca balances with a minus sign. Not all cells require input.) YARD DESIGNS Accounting Equation Year 1 Assets Liabilities + Stockholders Equity Unearned Cash Retained Revenue Earnings Event Event + Adjusting ++ 11 CRA Req B1 Inc Stre Minbox 60) X OUX Armertex Question Gard Designs C ezto meducation.com Tur tu amat browser-anchurimps 25342 Chapter 2 Connect 7 & Covens under an accoun b. Prepare an income one that cows for the accorgend cignoring the future what is out of that would be recognitin 2 NO Complete this question by the sho 1 A CP 7 Next > Type here to search o e a 2 # 3 % 4 5 6 02 7 8 9 Req A Req B1 Inc Req B2 Bal Req B3 CF Stmt Sheet Stmt Reqc Prepare the statement of cash flows for the Year 1 accounting period. (Do not roun outflows with a minus sign.) YARD DESIGNS Statement of Cash Flows For the Year Ended December 31: Year 1 Cash flows from operating activities Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Net change in cash Ending cash balance

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