Exercise $2-13$A $($Algo$)$ Unearned items on financial statements LO $2-7,2-8$

Yard Designs $($YD$)$ experienced the following events in Year $1,$ its first year of operation:

On October $1,$ Year $1,$ YD collected $$32,400$ for consulting services it agreed to provide during the coming year.

Adjusted the accounts to reflect the amount of consulting service revenue recognized in Year $1.$

Required:

Based 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 period.

c$.$ Ignoring all other future events, what is the amount of service revenue that would be recognized in Year $2?$

Complete this question by entering your answers in the tabs below.

$\backslash$table$[[$Req $A,\backslash$table$[[$Req B$1],[$Income$],[$statement$]],\backslash$table$[[$Req B$2],[$Balance sheet$]],\backslash$table$[[$Req B$3],[$Statement of$],[$cash flows$]],$Req C$]]$

Note: Do not round intermediate calculations. Enter any decreases to account balances with a minus sign. Not all cells require

Record the events under an accounting equation. input.

$\backslash$table$[[$YARD DESIGNS$],[$Accounting Equation Year $1],[$Event$,$Assets,$=,$Liabilities,$+,\backslash$table$[[$Stockholders$\text{'}],[$Equity$]]],[$Cash$,=,\backslash$table$[[$Unearned$],[$Revenue$]],+,$Retained Earnings$],[$Event$,,=,,+,],[$Adjusting$,,=,,+,],[,,=,,+,0]]$

BCY$,$ SWELL AND HAUL

Given the following dimensions, determine the quantity $($cy$)$ to be excavated.

Length $60ft$

Width $=85ft$

Depth $=8ft$

Volume bank cubic yard