education.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fims.mheducation.comMaps O Porter's Five Forc...ssignment 2esRequired informationReq DiKeq DZAssetsCashReq D3Req D4LEACH INCORPORATEDBalance SheetAs of December 31, Year 2Accounts receivableLess: Allowance for doubtful accountsTotal assetsLiabilitiesStockholders' equityCommon stockRetained earningsTotal stockholders' equityTotal liabilities and stockholders' equityPrepare the balance sheet for Year 2. (Enter amounts to be deducted with a minus sign. Round your answers to thenearest whole dollar amounts.)$15,650< Req D4Req D50$ 143,00015,650$ 158,650$+EA$< PrevSaved0Req D600Req D6 >4Req D/of 6Next >Đà L education.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fims.mheducation.comMaps O Porter's Five Forc...ssignment 2esRequired informationReq DiKeq DZAssetsCashReq D3Req D4LEACH INCORPORATEDBalance SheetAs of December 31, Year 2Accounts receivableLess: Allowance for doubtful accountsTotal assetsLiabilitiesStockholders' equityCommon stockRetained earningsTotal stockholders' equityTotal liabilities and stockholders' equityPrepare the balance sheet for Year 2. (Enter amounts to be deducted with a minus sign. Round your answers to thenearest whole dollar amounts.)$15,650< Req D4Req D50$ 143,00015,650$ 158,650$+EA$< PrevSaved0Req D600Req D6 >4Req D/of 6Next >Đà L

Line following information applies to the questions displayed below.j Leach Incorporated experienced the following events for the first two years of its operations. Year 1: 1. Issued $16,000 of common stock for cash. 2. Provided $84,600 of services on account. 3. Provided $42,000 of services and received cash. 4. Collected $75,000 cash from accounts receivable. 5. Paid $44,000 of salaries expense for the year. 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 5 percent of the ending accounts receivable balance will be uncollectible. 7. Closed the revenue account. 8. Closed the expense accounts. Year 2: 1. Wrote off an uncollectible account for $950. 2. Provided $94,000 of services on account. 3. Provided $38,000 of services and collected cash. 4. Collected $87,000 cash from accounts receivable. 5. Paid $71,000 of salaries expense for the year. 6. Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 5 percent of the ending accounts receivable balance will be uncollectible. 7. Closed the revenue account. 8. Closed the expense accounts. the income statement, statement of change of the accounts

Line following information applies to the questions displayed below.j Leach Incorporated experienced the following events for the first two years of its operations. Year 1: 1. Issued $16,000 of common stock for cash. 2. Provided $84,600 of services on account. 3. Provided $42,000 of services and received cash. 4. Collected $75,000 cash from accounts receivable. 5. Paid $44,000 of salaries expense for the year. 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 5 percent of the ending accounts receivable balance will be uncollectible. 7. Closed the revenue account. 8. Closed the expense accounts. Year 2: 1. Wrote off an uncollectible account for $950. 2. Provided $94,000 of services on account. 3. Provided $38,000 of services and collected cash. 4. Collected $87,000 cash from accounts receivable. 5. Paid $71,000 of salaries expense for the year. 6. Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 5 percent of the ending accounts receivable balance will be uncollectible. 7. Closed the revenue account. 8. Closed the expense accounts. the income statement, statement of change of the accounts

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2020): Borrowed $18,279 from banks due in two years. Purchased additional investments for $22,200 cash; one-fifth were long term and the rest were short term. Purchased property, plant, and equipment; paid $9,584 in cash and signed a short-term note for $1,422. Issued additional shares of common stock for $1,481 in cash; total par value was $1 and the rest was in excess of par value. Sold short-term investments costing $19,021 for $19,021 cash. Declared $11,138 in dividends to be paid at the beginning of the next fiscal year. Prepare a classified balance sheet for Orange at September 26, 2020, based on these transactions. please complete this with working and show how did you get the number with other work answer in text thanks