Post the Journal Entry for Question 2 number 8

Also post the 2018 Cash Flow statement for 3c only

Common Equity Loan from Bank Prepaid Services PPE Intcrest Receivable 28 618 10 Wages Payable Accounts Payable Loan to Glass Maker (separate 25 Accounts Receivable Retained Eamings Trademark("View The Future) Prepaid Rent Advances so Suppliens 145 120 781 195 During 2018 the following transactions occurred: 1. Cash sales were S800, credit sales were $1,200 and the 2. NGST purchased S1,706 worth of inventory, and paid 3. A new machine was purchased, in cash, for $200. 4. In addition to the transactions in item 2 above, NGST ending balance of accounts receivable was $210. its suppliers $1,607 Depreciation expense for the year was S80 purchased, from the supplier it had advances with on December 31, 2017, 120 VR headsets, at $2.50 per unit. By the end of the year, N and paid it in full GST settled the account 5. NGST declared a dividend of S75, and paid in cash S60 6. GlassMaker paid NGST $37: S5 for the interest related to last year (recorded as interest receivable in 2017), S7 for interest related to the year 2018, and the rest (S25) against the loan principal. 7. On the first day of the year, NGST sold to FutureCast for S195 cash, the right to use the trade name "View The Future" 8. Ending inventory, including the remaining units of VR 9. The employees of NGST earned $75, and were paid 10. Rent expense for 2018 was S150, while rent 11. NGST accrued interest of S8 on its loan from the 12. The VP of Finance of NGST was invited to a dinner Headsets, was $106. $80 as wages. payments were $136. bank. No payments were made during the year. at the TriCom. It is believed that the knowledge generated during the dinner will reduce expenses next year by $150. 13. The prepaid services were used, in full, during the Finance Intern Case Test Assignment Based on the case below, you are requested to: 1. Provide the balance for Advance to Suppliers as of December 31, 2017 2. Record the transactions that occurred through 2018, in whatever fashion you choose (T-accounts, Journal Entries, or other methodology of your choosing) 3. Prepare the following a. 2018 Income Statement b. Balance Sheet as of December 31, 2018 c. 2018 Cash Flow Statement Spreadsheet fil entation of the wor xpected to be "review ready" for a supervisor. Case NGST NextGen Sports Technology Inc. (NGST) is a VR headset manufacturer/retailer that started its operations during the 2015. Many years later, the balance sheet for December 31, 2017, showed the following account balances (there were no other accounts listed) Account Common Equity Loan from Bank Prepaid Services PPE Interest Receivable Cash Wages Payable Amount 500 28 10 410 618 10 Common Equity Loan from Bank Prepaid Services PPE Intcrest Receivable 28 618 10 Wages Payable Accounts Payable Loan to Glass Maker (separate 25 Accounts Receivable Retained Eamings Trademark("View The Future) Prepaid Rent Advances so Suppliens 145 120 781 195 During 2018 the following transactions occurred: 1. Cash sales were S800, credit sales were $1,200 and the 2. NGST purchased S1,706 worth of inventory, and paid 3. A new machine was purchased, in cash, for $200. 4. In addition to the transactions in item 2 above, NGST ending balance of accounts receivable was $210. its suppliers $1,607 Depreciation expense for the year was S80 purchased, from the supplier it had advances with on December 31, 2017, 120 VR headsets, at $2.50 per unit. By the end of the year, N and paid it in full GST settled the account 5. NGST declared a dividend of S75, and paid in cash S60 6. GlassMaker paid NGST $37: S5 for the interest related to last year (recorded as interest receivable in 2017), S7 for interest related to the year 2018, and the rest (S25) against the loan principal. 7. On the first day of the year, NGST sold to FutureCast for S195 cash, the right to use the trade name "View The Future" 8. Ending inventory, including the remaining units of VR 9. The employees of NGST earned $75, and were paid 10. Rent expense for 2018 was S150, while rent 11. NGST accrued interest of S8 on its loan from the 12. The VP of Finance of NGST was invited to a dinner Headsets, was $106. $80 as wages. payments were $136. bank. No payments were made during the year. at the TriCom. It is believed that the knowledge generated during the dinner will reduce expenses next year by $150. 13. The prepaid services were used, in full, during the Finance Intern Case Test Assignment Based on the case below, you are requested to: 1. Provide the balance for Advance to Suppliers as of December 31, 2017 2. Record the transactions that occurred through 2018, in whatever fashion you choose (T-accounts, Journal Entries, or other methodology of your choosing) 3. Prepare the following a. 2018 Income Statement b. Balance Sheet as of December 31, 2018 c. 2018 Cash Flow Statement Spreadsheet fil entation of the wor xpected to be "review ready" for a supervisor. Case NGST NextGen Sports Technology Inc. (NGST) is a VR headset manufacturer/retailer that started its operations during the 2015. Many years later, the balance sheet for December 31, 2017, showed the following account balances (there were no other accounts listed) Account Common Equity Loan from Bank Prepaid Services PPE Interest Receivable Cash Wages Payable Amount 500 28 10 410 618 10