MOEEMEEEx ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252... 2B HW Saved p Save & Exit S Hart, Attorney at Law, experienced the following transactions in Year 1, the first year of operations: 1. Accepted $18,200 on April 1, Year 1, as a retainer for services to be performed evenly over the next 12 months. 2. Performed legal services for cash of $67,500. 3. Purchased $1,300 of office supplies on account. 4. Paid $1,170 of the amount due on accounts payable 5. Paid a cash dividend to the stockholders of $4,800. 6. Paid cash for operating expenses of $21,300. 7. Determined that at the end of the accounting period $105 of office supplies remained on hand. 8. On December 31, Year 1, recognized the revenue that had been earned for services performed in accordance with Transaction 1. ces Required Show the effects of the events on the financial statements using the following horizontal statements model. In the Cash Flow column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity, and NC for net change in cash. If the element is not affected by the event, leave the cell blank. The first event has been recorded as an example. (Do not round intermediate calculations. Enter any decreases to account balances and cash outflows with a minus sign. Not all cells require entry.) HART, ATTORNEY AT LAW Effect of Transactions on the Financial Statements for Year 1 Balance Sheet Income Statement Stockholders' Assets Liabilities Statement of Cash Prey. 1 of 4 Next > - Q SearchMOOEEMEEEx + to.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252... # New Chrome availat WA Saved Help Save & Exit Submit entry.) HART, ATTORNEY AT LAW Effect of Transactions on the Financial Statements for Year 1 Balance Sheet Income Statement Assets Liabilities Stockholders' Statement of Cash Equity Flow Event No. Cash + Supplies Accounts Unearned Retained Payable Revenue Earnings Revenue Expense = Net Income 18,200 + + 18,200 + - 18,200 OA 2. 11 11 11 11 11 11 + CI A W + + + + + + + + + + + + + 11 11 11 11 1 8 . Totals Pre.v. 1 of 4 Next > E x 1/20 Q SearchC Sa ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252... * Chp 2B HW i Saved Help 2 Required Identify each of the following events as an accrual, a deferral, or neither: Events Type of Accounting 5 a. Paid cash in advance for a one-year insurance policy points b. Paid cash to settle an account payable. C. Collected accounts receivable. eBook d. Paid cash for current salaries expense. e. Paid cash to purchase supplies. Print f. Provided services on account. References g. Provided services and collected cash. h. Paid cash to purchase land. i. Recognized accrued salaries at the end of the accounting period. j. Paid a cash dividend to the stockholders. k. Recognized revenue on account at the end of the period. 1. Collected cash for services to be provided in the future. E Q Search25 ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252... * Chp 2B HW Saved Help Required a. Identify the events that would require a year-end adjusting entry. 3 b. Are adjusting or closing entries recorded first? Complete this question by entering your answers in the tabs below. points Required A Required B eBook Identify the events that would require a year-end adjusting entry. Print Year-End Events Adjusting Entry References 1. Recognized revenue on account. 2. Issued common stock 3. Paid cash to purchase supplies. 4. Collected a cash advance for services that will be provided during the coming year. 5. Paid a cash dividend to the stockholders. 6. Paid cash for an insurance policy that provides coverage during the next year. 7. Collected cash from accounts receivable. 8. Paid cash for operating expenses. 9. Paid cash to settle an account payable. 10. Paid cash to purchase land. aw Q Search CALONCOLUO E Xezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%25 2B HW i Saved The following transactions pertain to the operations of Ewing Company for Year 1: 1. Acquired $30,000 cash from the issue of common stock. 2. Provided $65,000 of services on account. 3. Paid $22,000 cash on accounts payable. 4. Performed services for $8,000 cash. 5. Collected $51,000 cash from accounts receivable. 6. Incurred $37,000 of operating expenses on account. 7. Paid $6,500 cash for one year's rent in advance. 8. Paid $4,000 cash dividend to the stockholders. 9. Paid $1,200 cash for supplies to be used in the future. 10. Recognized $3,100 of accrued salaries expense. ces Required a. Classify the cash flows from these transactions as operating activities (OA), investing activities (IA), or financing acti b. Prepare a statement of cash flows. (There is no beginning cash balance.) Complete this question by entering your answers in the tabs below. Required A Required B