Question: Please help if you can answer the question in the same format tyr question is asked by inputting the answer. Northwest Sales had the following





Northwest Sales had the following transactions in Year 1: 1. Acquired $60,500 cash from the issue of common stock. 2. Purchased $177,500 of merchandise for cash in Year 1. 3. Sold merchandise that cost $104,709 during the year under the following terms: $ 46,030 Cash sales 139,070 Credit card sales (The credit card company charges a 2.50 percent service fee.) 5,280 Sales on account (Record each part of the transaction on a separate line.) 4. Collected all the amount receivable from the credit card company. 5. Collected $4,858 of accounts receivable. 6. Paid selling and administrative expenses of $43,569. 7. Determined that 5.00 percent of the ending accounts receivable balance would be uncollectible. Required a. Record these events in a horizontal statements model. When you record amounts in the Cash Flow column, indicate whether the item is an operating activity (OA), an investing Activity (IA), a financing activity (FA) or NC for net change in cash. If an element is not affected by the event, leave the cell blank. b. Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for Year 1. Complete this question by entering your answers in the tabs below. Req A Req B1 Req B2 Reg 83 Req B4 Record these events in a horizontal statements model. When you record amounts in the Cash Flow column, indicate whether the item is an operating activity (OA), an in financing activity (FA) or NC for net change in cash. If an element is not affected by the event, leave the cell blank. (Enter any decreases to account balances and cash Round final answers to whole dollars. Not all cells will require entry) NORTHWEST SALES Horizontal Statements Model Balance Sheet Income Statement Event No. Statement of Cash Flow Assets NRV Accounts Receivable Equity Common Retained Stock Earnings Revenue Expense Cash Net Income Merchandise Inventory 1 2 . 3a - + 3b 30 3d. 4 . 5 6. 7. Bal Reg 1 Complete this question by entering your answers in the tabs below. Req A Req B1 Req B2 Req B3 Req B4 Prepare an income statement for Year 1. (Round final answers to whole dollars.) NORTHWEST SALES Income Statement For the Year Ended Year 1 Operating expenses Total operating expenses Required a. Record these events in a horizontal statements model. When you record amounts in the Cash Flow column, indicate whether the item is an operating activity (OA), an investing Activity (IA), a financing activity (FA) or NC for net change in cash. If an element is not affected by the event, leave the cell blank. b. Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for Year 1 Complete this question by entering your answers in the tabs below. Rega Req B1 Reg B2 Reg B3 Req B4 Prepare a statement of changes in stockholders' equity for Year 1. (Round final answers to whole dollars.) NORTHWEST SALES Statement of Changes in Stockholders' Equity For the Year Ended Year 1 Beginning common stock Ending common stock Beginning retained earnings Ending retained earnings Total stockholders' equilty Required a. Record these events in a horizontal statements model. When you record amounts in the Cash Flow column, indicate whether the item is an operating activity (OA), an investing Activity (IA), a financing activity (FA) or NC for net change in cash. If an element is not affected by the event, leave the cell blank. b. Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for Year 1. Complete this question by entering your answers in the tabs below. ReqA Req B1 Req B2 Req B3 Req B4 Prepare a balance sheet for Year 1. (Be sure to list the assets in the order of their liquidity. Round final answers to whole dollars.) NORTHWEST SALES Balance Sheet As of December 31, Yoar 1 Assets Total assets Liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity Required a. Record these events in a horizontal statements model. When you record amounts in the Cash Flow column, indicate whether the item is an operating activity (OA), an investing Activity (IA), a financing activity (FA) or NC for net change in cash. If an element is not affected by the event, leave the cell blank. b. Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for Year 1. Complete this question by entering your answers in the tabs below. Reg A Req B1 Req B2 Req B3 Req B4 Prepare a statement of cash flows for Year 1. (Cash outflows should be indicated with a minus sign. Round final answers to whole dollars.) NORTHWEST SALES Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Net cash flow from financing activities Net change in cash Ending cash balance
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