Yard Professionals Inc experienced the following events in Year 1. its first year of operation 4 1. Performed services for $19,500 cash, 2. Purchased $6,600 of supplies on account 3. A physical count on December 31, Year 1. found that there was $1,280 of supplies on hand Required Based on this information alone 6. 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. What is the balance in the Supplies account as of January 1 Year 2? d. What is the batance in the Supplies Expense account as orary 1. Your ? Complete this question by entering your answers in the tabs below. RGA Reg 31 Inc Sunt Reg 2 Bar Sheet Reg BC St Regando Record the events under an accounting equation (Not all cells require input. Enter any decreases to account balances with a minusson) YARD PROFESSIONALS INC Effect of Events on the Accounting Equation Assets Liabilities Accounts Cash Supplies Payable Event Stockholders Equity Retained Eaming Complete this question by entering your answers in the tabs below. look Pont rences Req A Req B1 Inc Req B2 Bal Reg B3 CF Sumt Sheet Stmt Reg C and D Record the events under an accounting equation. (Not all cells require input. Enter any decreases to account balances with a minus sign.) YARD PROFESSIONALS INC Effect of Events on the Accounting Equation Assets Event Liabilities Accounts Payable Stockholders Equity Retained Earnings Cash Supplies 1 Provided service 2. Purchased supplies 3. Usod supplies Totals Complete this question by entering your answers in the tabs below. Reg A Req B1 Inc Sumt Reg 02 Bal Sheet Reg B3 CF Stut Reg Cand D ces Prepare an income statement for the Year 1 accounting period. YARD PROFESSIONALS INC Income Statement For the Year Ended December 31, Yeac1 Complete this question by entering your answers in the tabs below. 4 Reg A Reg B1 Inc Stmt Reg B2 Bal Sheet Req B3 CF Stmt Reg Cand Prepare a balance sheet for the Year 1 accounting period. book YARD PROFESSIONALS INC. Balance Sheet As of December 31, Year 1 References Assets Total assets Liabilities Totallibilities Stockholders' Equity Total stockholders' equity Totatiblities and stockholdene equity Complete this question by entering your answers in the tabs below. 4 Req A Req B1 Inc Semt Reg B2 Bal Sheet Reg B Stmt Reg C and D Prepare the statement of cash flows for the Year 1 accounting period. (Enter cash outflows with a minus slan.) eBook Paint YARD PROFESSIONALS INC. Statement of Cash Flows For the Year Ended December 31 Year 1 Cash flows from operating activities References Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Net change in cash Ending cash balance b. Prepare an income statement, balance sheet, and statement of cash flows for the Year 1 accounting period, c. What is the balance in the Supplies account as of January 1, Year 2? d. What is the balance in the Supplies Expense account as of January 1, Year 2? Complete this question by entering your answers in the tabs below. Reg A Req B1 Inc Stmt Reg B2 Bal Sheet Req B3 CF Stmt Reg C and D What is the balance in the Supplies account as of January 1, Year 27 What is the balance in the Supplies Expense account as of January 1, Year 22 Supplies d. Supplies expense
