Question: Please help if you can input the answers in the same format the questions are asked tht would be great! Required information Problem 5-26A (Algo)



Required information Problem 5-26A (Algo) Accounting for notes receivable and uncollectible accounts using the percent of sales allowance method LO 5-1, 5-4 (The following information applies to the questions displayed below) The following transactions apply to Hooper Co. for Year 1, its first year of operations: 1. Issued $120,000 of common stock for cash. 2. Provided $92,000 of services on account. 3. Collected $80,000 cash from accounts receivable. 4. Loaned $11,000 to Mosby Co. on November 30, Year 1. The note had a one-year term to maturity and a 8 percent 5. Paid $36,000 of salaries expense for the year. 6. Paid a $4,000 dividend to the stockholders. 7. Recorded the accrued interest on December 31, Year 1 (see item 4). 8. Estimated that 1 percent of service revenue will be uncollectible. interest rate. Problem 5-26A (Algo) Part b b. Prepare the income statement, balance sheet, and statement of cash flows for Year 1. Complete this question by entering your answers in the tabs below. Req B Inc Req B Bal Req B Stmt Stmt Sheet Cash Flows Prepare the income statement for Year 1. (Round intermediate calculations and final answers to nearest whole dollar amount.) HOOPER CO. Income Statement For the Year Ended December 31, Year 1 Operating expenses Total operating expenses Non-Operating Items Reg B Bal Sheet > Req B Inc Stmt Req B Bal Sheet Req B Stmt Cash Flows Prepare the balance sheet for Year 1. (Round intermediate calculations and final answers to nearest whole dollar amount.) HOOPER CO. Balance Sheet As of the End of the Year 1 Assets Total assets Liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity Req B Inc Stmt Req B Bal Sheet Req B Stmt Cash Flows Prepare the statement of cash flows for Year 1. (Cash outflows should be indicated with a minus sign.) HOOPER CO. 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 Net cash flow 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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