Could you please help me solving this question? Please Yord Professionals Inc experienced the following events in Yeor 1 its first year of operatior1 Performed services for $35,000 cosh.2 Purchased $6,000 of supplies on account3. A physical count on December 31, Year 1, found that there was $1800 of supplies on hand.RequiredBased on this information alone:a Record the events under an accounting equation.b. Prepore on 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 22d 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.Req B1 IncReg B2 BalReg B3 CFReg AReg Cand DStmtSheetStmtPrepare a balance sheet for the Year 1 accounting period.YARD PROFESSIONALS INC.Balance SheetAs of Decemiber 31, Year 1AssetsTotal assetsLab tesTotal labltiesstockholders EquityTotal stocknolders equityTotal labilitles and stocknoldens equtReg 3 CF Stnt>( Reg B1 Inc Sitrmt Yard Professlonals Inc. experlenced the following events In Year 1, ts first year of operation:1 Performed services for $35,000 cash2 Purchased $6,000 of supplles on account.3. A physlcal count on December 31, Year 1, found that there was $1,800 of supplies on hand.RequiredBased 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 perfod.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.Req B1 IncStmtReq 83 CFStmtReg B2 BalReq C and DReq ASheetPrepare the statement of cash flows for the Year 1 accounting period. (Enter cash outflows with a minus sign.)YARD PROFESSIONALS INC.Statement of Cash FlowsFor the Year Ended December 31, Year 1Cash flows from operating activitiesNet cash flow from operating activitesCash flows from investing activitesCash flows from financing activitesNet change in cashEnding cash balance( Reg 82 Bal SheetReg Cand D

Yord Professionals Inc experienced the folloving events in Yeor its first year of operation 1 Performed services for $35,000 cnsh. 2 Purchased $6.000 of supplies on account 3. A physical Count on December 31, Year 1, found that there was $1300 of supplies on hand. Required Based on this information alone: a Record the events under an accounting equation. b. Prepare on 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 B1 Inc Reg 82 Bal Reg 83 CF Reg A Reg Cand D Stmt Sheet Stmt Prepare a balance sheet for the Year 1 accounting period. YARD PROFESSIONALS INC. Balance Sheet As of December 31, Year 1 Assets Total assets Llablities Total llablities stockholders Equity Total stocknolders equity Total lablities and stocknolcers equity Req 83 CF Strmt > < Reg B1 Iric Stmt %24

Yord Professionals Inc experienced the folloving events in Yeor its first year of operation 1 Performed services for $35,000 cnsh. 2 Purchased $6.000 of supplies on account 3. A physical Count on December 31, Year 1, found that there was $1300 of supplies on hand. Required Based on this information alone: a Record the events under an accounting equation. b. Prepare on 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 B1 Inc Reg 82 Bal Reg 83 CF Reg A Reg Cand D Stmt Sheet Stmt Prepare a balance sheet for the Year 1 accounting period. YARD PROFESSIONALS INC. Balance Sheet As of December 31, Year 1 Assets Total assets Llablities Total llablities stockholders Equity Total stocknolders equity Total lablities and stocknolcers equity Req 83 CF Strmt > < Reg B1 Iric Stmt %24

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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