Chapter 5 Application 5 Saved Help Save & Exit Submit 10 16.66 points 10 10 Print Ultra Day Spa provided $94,300 of services during Year 1. All customers paid for the services with credit cards. Ultra submitted the credit card receipts to the credit card company immediately. The credit card company paid Ultra cash in the amount of face value less a 4 percent service charge. Required a. Record the credit card sales and the subsequent collection of accounts receivable in a horizontal statements model like the one shown here. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA) If an element is not affected by the event, leave the cell blank. b. Based on this information alone, answer the following questions: (1) What is the amount of total assets at the end of the accounting period? (2) What is the amount of revenue reported on the income statement? (3) What is the amount of cash flow from operating activities reported on the statement of cash flows? Complete this question by entering your answers in the tabs below. Check my work Required A Required 8 Record the credit card sales and the subsequent collection of accounts receivable in a horizontal statements model like the one shown here. In the Cash Flow column, indi whether the item is an operating activity (OA), Investing activity (IA), or financing activity (FA). If an element is not affected by the event, leave the cell blank. (Round yo answers to the nearest whole dollar. Not every cell will require entry. Enter any decreases to account balances with a minus sign.) ULTRA DAY SPA Horizontal Statements Model Show Balance Sheet Income Statement Assets Liab + Event Castr Acct. Rec Equity Ret. Ear Revenue Expense Met Income Cash Flows upda (i) what is the amount of total assets at the end of the accounting period? (2) What is the amount of revenue reported on the income statement? (3) What is the amount of cash flow from operating activities reported on the statement of cash flows? Complete this question by entering your answers in the tabs below. Required A Required B Record the credit card sales and the subsequent collection of accounts receivable in a horizontal statements model like the one shown here. In the Cash Flow column, ind whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element is not affected by the event, leave the cell blank. (Round yo answers to the nearest whole dollar. Not every cell will require entry. Enter any decreases to account balances with a minus sign.) ULTRA DAY SPA Horizontal Statements Model Balance Sheet Income Statement Assets Liab 4 Event 1. Cash Acct. Rec Equity Ret. Ear, Revenue Expense Net Income Cash Flows 2. . Required A Required B > < Prev 5 of 6 Next > Show Of Cash How Hoperating activities reported on the statement of cash flows? Complete this question by entering your answers in the tabs below. Required A Required B Based on this information alone, answer the following questions: (Round your answer to nearest whole dollar.) (1) What is the amount of total assets at the end of the accounting period? (2) What is the amount of revenue reported on the income statement? (3) What is the amount of cash flow from operating activities reported on the statement of cash flows? 1. Total assets 2. Revenue recognized 3. Cash flow from operating activities