The following transactions and events are provided by the records of South Hill Apartments (a corporation) at the end of its fiscal year, December 31, 2014:

Required:
For each of the following accounts, compute the balance that should be reported in South Hill€™s 2014 financial statements, indicate on which financial statement the item will be reported, and indicate the effect (direction and amount) on cash flows (+ for increase, €“ for decrease, and €œ N€ for no effect). (Hint: Create T- accounts to determine account balances.)

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Revenue a. Rent revenue collected in cash during 2014 for occupancy in 2014 b. Rent revenue earned for occupancy in December 2014; not collected until 2015 c. Rent collected in December 2014 in advance of occupancy in January 2015 Salaries d. Cash payment in January 2014 for employee salaries earned in December 2013 e. Salaries incurred and paid during 2014 f Salaries eamed by employees during December 2014 that will be paid in $512,000 16,000 12,000 4,000 62,000 January 2015 g. Cash advance to employees in December 2014 for salaries that will be earned 3,000 in January 2015 Supplies h. Maintenance supplies inventory on January 1, 2014 (balance on hand) i. Maintenance supplies purchased for cash during 2014 . Maintenance supplies inventory on December 31, 2014 1,500 3,000 8,000 1,700 2014 Balance Financial Statement Effect on Cash Flows Account 1. Rent revenue 2. Salary expense 3. Maintenance supplies expense 4. Rent receivable 5. Receivables from employees 6. Maintenance supplies inventory 7 Deferred rent revenue 8. Salaries payable