Damaged clothing from Help Save & Exit Submit ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-group/kEZASSBKEPUGL9bt-TSZRiuPHcKYv3EHOiAm4h0gf44llphi-rtQnDbTLoT33hgp0-8aTTb... ents | My.NCWU.EX M Question 1 Chapter 2 Quiz - C X + pter 2 Quiz i 1 Skipped The following events pertain to Super Cleaning Company: 1. Acquired $15,400 cash from the issue of common stock. 2. Provided $13,400 of services on account. 3. Provided services for $4,400 cash. 4. Received $2,800 cash in advance for services to be performed in the future. 5. Collected $9,400 cash from the account receivable created in Event 2. 6. Paid $5,400 for cash expenses. 7. Performed $1,400 of the services agreed to in Event 4. 8. Incurred $1,900 of expenses on account. 9. Paid $1,300 cash in advance for one-year contract to rent office space. 10. Paid $1,550 cash on the account payable created in Event 8. 11. Paid a $1,900 cash dividend to the stockholders. 12. Recognized rent expense for nine months' use of office space acquired in Event 9. Required: Saved Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. More specifically, record the amounts of the events into the model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). The first event is recorded as an example. Note: Round your final answers to the nearest whole dollar. Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input is needed. SUPER CLEANING COMPANY Event Number Cash + Assets Accounts Receivable + + Prepaid Rent == Accounts Payable Unearned Revenue 5 Effect of Events on the Financial Statements Liabilities Stockholders' Equity Retained Earnings Income Statement Statement of Cash Common Stock + Revenue Expenses Net Income Flows 1. 15,400 + + + + 15,400 + 15,400 FA 2. + + = + + + 3. + + + + 4. + + + + + + Mc Graw Hill 5. + 6. + ++ 7. 8. 9. + ++ + + 10. + + 11. + + + III IL 12. Balance 15,400 + 0+ 0 Type here to search + + + + + + + + + + + + ++ + + + + + + + + + + 0+ 0+ 15,400 + Prey 1 of 2 Next > 0 15,400 NC* 11:03 9/14/2

Damaged clothing from Help Save & Exit Submit ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-group/kEZASSBKEPUGL9bt-TSZRiuPHcKYv3EHOiAm4h0gf44llphi-rtQnDbTLoT33hgp0-8aTTb... ents | My.NCWU.EX M Question 1 Chapter 2 Quiz - C X + pter 2 Quiz i 1 Skipped The following events pertain to Super Cleaning Company: 1. Acquired $15,400 cash from the issue of common stock. 2. Provided $13,400 of services on account. 3. Provided services for $4,400 cash. 4. Received $2,800 cash in advance for services to be performed in the future. 5. Collected $9,400 cash from the account receivable created in Event 2. 6. Paid $5,400 for cash expenses. 7. Performed $1,400 of the services agreed to in Event 4. 8. Incurred $1,900 of expenses on account. 9. Paid $1,300 cash in advance for one-year contract to rent office space. 10. Paid $1,550 cash on the account payable created in Event 8. 11. Paid a $1,900 cash dividend to the stockholders. 12. Recognized rent expense for nine months' use of office space acquired in Event 9. Required: Saved Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. More specifically, record the amounts of the events into the model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). The first event is recorded as an example. Note: Round your final answers to the nearest whole dollar. Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input is needed. SUPER CLEANING COMPANY Event Number Cash + Assets Accounts Receivable + + Prepaid Rent == Accounts Payable Unearned Revenue 5 Effect of Events on the Financial Statements Liabilities Stockholders' Equity Retained Earnings Income Statement Statement of Cash Common Stock + Revenue Expenses Net Income Flows 1. 15,400 + + + + 15,400 + 15,400 FA 2. + + = + + + 3. + + + + 4. + + + + + + Mc Graw Hill 5. + 6. + ++ 7. 8. 9. + ++ + + 10. + + 11. + + + III IL 12. Balance 15,400 + 0+ 0 Type here to search + + + + + + + + + + + + ++ + + + + + + + + + + 0+ 0+ 15,400 + Prey 1 of 2 Next > 0 15,400 NC* 11:03 9/14/2

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter10: Financial Statements And Reports

Section: Chapter Questions

Problem 1.8C

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