Question: * need all 6 tables completed * Year 1 : Issued $ 1 0 , 0 0 0 of common stock for cash. Provided $

*need all 6 tables completed*
Year 1 :
Issued $10,000 of common stock for cash.
Provided $120,000 of services on account.
Provided $25,000 of services and recewed cash.
Collected $95,000 cash from accounts receivable.
Paid $20,000 of salaries expense for the year
Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 5 percent of the ending accounts receivable balance will be uncollectible.
Year 2 i
Wrote off an uncollectible account for $720.
Provided $140,000 of services on account.
Provided $20,000 of semices and collected cash.
Collected $122,000 cash from accounts receivable.
Paid $22,000 of salaries expense for the year
Adjusted the accounts to reflect uncollectible accourits expense for the year. Leach estimates that 5 percent of the ending accounts recevable balance will be uncollectible
d-1. Organize the transaction data in accounts urder an accounting equation for Year 2.
d-2. Prepare an income statement for Year 2.
d-3. Prepare the statement of changes in stockholder's equity for Mear 2
d-4. Frepare the balance sheet for Year 2.
d-5. Prepare the statement of cash flows for Year 2.
d-6. What is the net realizable value of the accounts receivable at December 31, Mear 2?
Complete this question by entering your answers in the tabs below.
 *need all 6 tables completed* Year 1 : Issued $10,000 of

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!