Question: Please do these on an excel spreadsheet so it is easy for me to read. Waddell Company had the following balances in its accounting records



Waddell Company had the following balances in its accounting records as of December 31, Year 1. Assets Liabilities and Equity Cash 51,000 Accounts Payable $ 24,000 Accounts Receivable 44,000 Common Stock 81,000 Land 25,000 Retained Earnings 16,000 Total $ 121,000 Total $ 121,800 The following accounting events apply to Waddell Company's Year 2 fiscal year. January 1 Acquired $52, Bee cash from the issue of common stock. February 1 Paid $5,400 cash in advance for a one-year lease for office space. March 1 Paid a $2,000 cash dividend to the stockholders. April 1 Purchased additional land that cost $26,eee cash. May 1 Made a cash payment on accounts payable of $13,000. July 1 Received $8,800 cash in advance as a retainer for services to be performed monthly over the coming year. September 1 Sold land for $18,000 cash that had originally cost $18,000. October 1 Purchased $970 of supplies on account. December 31 Earned $63,000 of service revenue on account during the year. December 31 Received cash collections from accounts receivable amounting to $68,000 December 31 Incurred other operating expenses on account during the year that amounted to $14,800. December 31 Recognized accrued salaries expense of $4,300. December 31 Had $200 of supplies on hand at the end of the period. December 31 The land purchased on April i had a market value of $42,000. Required Based on the preceding Information answer the following questions for Waddell Company. All questions pertain to the Year 2 financial statements. (Hint Enter items in general ledger accounts under the accounting equation before answering the questions.) a. What amount would Waddell report for land on the balance sheet? b. What amount of net cash flow from operating activities would be reported on the statement of cash flows? c. What amount of rent expense would be reported on the income statement? d. What amount of total liabilities would be reported on the balance sheet? e. What amount of supplies expense would be reported on the income statement? f. What amount of uneared revenue would be reported on the balance sheet? 9. What amount of net cash flow from investing activities would be reported on the statement of cash flows? h. What amount of total expenses would be reported on the income statement? 1. What amount of service revenue would be reported on the income statement? J. What amount of cash flows from financing activities would be reported on the statement of cash flows? k. What amount of net income would be reported on the income statement? 1. What amount of retained earnings would be reported on the balance sheet? Assets Date Cash Accounts Receivable Prepaid Rent Supplies Land Accounts Payable Liabilities Salari Payable Stockholders' Equity Common Rotained Stock Earnings Unamed Revenue Ball Jan 1 Fob1 Mar 1 April May 1 July 1 Sept: Od Dec 31 Dec 31 Dec 31 Dec 31 (Doc at (Doc 31 Deal Dec 31 Bal 0 0 What amount would Waddell report for land on the balance sheet? What amount of net cash flow from operating activities would be reported on the statement of cash flows? (Enter cash outflows as negative amounts.) What amount of rent expense would be reported on the income statement? (Do not round intermediate calculations.) What amount of total liabilities would be reported on the balance sheet? What amount of supplies expense would be reported on the income statement? What amount of unearned revenue would be reported on the balance sheet? (Do not round intermediate calculations.) What amount of net cash flow from investing activities would be reported on the statement of cash flows? (Enter cash outflows as negative amounts.) What amount of total expenses would be reported on the income statement? (Do not round intermediate calculations.) What amount of service revenue would be reported on the income statement? (Do not round intermediate calculations.) What amount of cash flows from financing activities would be reported on the statement of cash flows? (Enter cash outflows as negative amounts) What amount of net income would be reported on the income statement? (Do not round Intermediate calculations.) What amount of retained earnings would be reported on the balance sheet? (Do not round intermediate calculations.) Show less Amount a Land b Net cash flow from operating activities c Rent expense d Total liabilities e Supplies expense Uneamed revenue 9 Net cash flow from investing activities h Total expenses Service revenue Cash flows from financing activities K Net income Rotained eaming
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