Please help me thank you guys *******Student Registration for D2L Brig XQuestion 1- Chapter 13 homew XB McGraw-Hill Connect Deep Integ XSllege Xneducation.com/ext/map/index.html?_con3con&external_browser%3D0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghmiddleware%252FmheSavedouTube Mapsnomework, part 2 iCherokee Company began operations when it issued common stock for $96,500 cash. It paid $86,850 cash in advance for a one-yearcontract to lease delivery equipment for the business. It signed the lease agreement on March 1, Year 1, which was effectiveimmediately. Cherokee received $110,975 of cash revenue in Year 1.Requireda. & b. Record the March 1 cash payment and adjustment required as of December 31, Year 1 in general journal format.c. Show all events in a horizontal statements model.d. & e. What amount of net income will Cherokee Company report on the Year 1 income statement? What is the amount of net cashflow from operating activities for Year 1? Determine the amount of prepaid rent Cherokee Company would report on the December 31,Year 1, balance sheet.Complete this question by entering your answers in the tabs below.ncesReq A and BReg CReq D and ERecord the March 1 cash payment and adjustment required as of December 31, Year 1 in general journal format. (If no entry is requiredfor a transaction/event, select "No journal entry required" in the first account field Do not round intermediate calculations.)View transaction listView journal entry worksheet期DateNO.General JournalDebitCreditMarch 01Prepaid rent (Lease)1.86.850Req C >McGrawype here to searchPrev1 of 4Next >ViewSonic 灣Caomework, part 2 iCherokee Company began operations when it issued common stock for $96,500 cash. It paid $86,850 cash in advance for a one-yearcontract to lease delivery equipment for the business. It signed the lease agreement on March 1, Year 1, which was effectiveimmediately. Cherokee received $110,975 of cash revenue in Year 1.Requireda. & b. Record the March 1 cash payment and adjustment required as of December 31, Year 1 in general journal format.c. Show all events in a horizontal statements model.d. & e. What amount of net income will Cherokee Company report on the Year 1 income statement? What is the amount of net cashflow from operating activities for Year 1? Determine the amount of prepaid rent Cherokee Company would report on the December 31,Year 1, balance sheet.Complete this question by entering your answers in the tabs below.Req A and BReq D and EShow all events in a horizontal statements model. (Record the events as they occurred in question data. Enter any decreases to account balances and cathe Statement of Cash Flows column, use OA to designate operating activity, IA for investing activity, FA for financing activity, and NC for net change in cnot round intermediate calculations.)CHEROKEE COMPANYHorizontal Statements Model for Year 1Balance SheetIncome StatementEventAssetsLiabilities +Stockholders' EquityStatement of Cash FlowsPrepaidRentCommonStockRetainedEarningsCashRevenueExpensesNet Income1.2.3.adj+.+1Bal.0.< Req A and BReq D and E >Prevof 4Nextre to searchViewSonicF4144#3114TabF105.

Note: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for you. To get remaining sub-part solved please repost the complete question and mention the sub-parts to be solved. Journal entry Journal entry is the process of documenting commercial transactions for the first time in the books of accounts. Journal entries form the basis for other accounting tasks such as ledger account preparation, trial balances, financial statements, and so on. The initial recording of all monetary business transactions in a systematic way is known as journal entries. They are listed in chronological sequence according to when the incident occurred. Adjusting entries, closing entries, and normal entries are all examples of diary entries.a) Journal Entry for March 1 payment Debit Credit Prepaid Rent(Lease) $86,850 To Cash $86,850 b) Adjusting Entry required Debit Credit Rent Expense ($86,850 x 10/12) $72,375 To Prepaid rent $72,375c) Cash + Prep. Rent = Common Stock + Retained Earnings Revenue - Expenses Net Income Cash Flow 1 96,500 96,500 FA 2 -86,850 86,850 -86,850 OA 3 110,975 110,975 110,975 110,975 110,975 OA adj -72,375 -72,375 72,375 -72,375 NA Bal 120,625 14,475 0 38,600 110,975 72,375 38,600 120,895 NC

Business

Accounting

Cherokee Company began operations when it issued common stock for $96,500 cash. It paid contract to lease delivery equipment for the business. It signed the lease agreement on March 1, Year 1, which was effective immediately. Cherokee received $110,975 of cash revenue in Year 1. Required a. & b. Record the March 1 cash payment and adjustment required as of December 31, Year 1 in general journal format. c. Show all events in a horizontal statements model. d. & e. What amount of net income will Cherokee Company report on the Year 1 income statement? What is the amount of ne flow from operating activities for Year 1? Determine the amount of prepaid rent Cherokee Company would report on the Dece