Triplett Services Co. experienced the following events in 2013:
1. Provided services on account.
2. Collected cash for accounts receivable.
3. Attempted to collect an account and, when unsuccessful, wrote the amount off to uncollectible accounts expense.

Required
Show the effect of each event on the elements of the financial statements, using a horizontal statements model like the one shown here. Use the following coding scheme to record your answers: increase is +, decrease is ˆ’, not affected is NA.

In the cash flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity(FA).

Transcribed Image Text:

Event No. Assets = Liab. + Equity Rev. - Exp. = Net Inc. Cash Flow