Req A & B

Req C

Req D

Req E

Raylan received a $56,000 cash advance payment on June 1, Year 1, for consulting services to be performed in the future. Services were to be provided for a one-year term beginning June 1, Year 1. Required a.& b. Record the June 1 cash receipt in T-accounts and the adjustment required as of December 31, Year 1. c. Show the preceding transaction and related adjustment in a horizontal statements model. d. Determine the amount of net income on the Year 1 income statement. What is the amount of net cash flow from operating activities for Year 12 e. What amount of liabilities would Raylan report on the Year 1 balance sheet? Complete this question by entering your answers in the tabs below. Rig A and B RIA Reqc Reg D Req Record the June 1 cash receipt in T-accounts and the adjustment required as of December 31, Year 1. (Do not round Intermediate calculations. Round your answers to the nearest dollar amount.) Cash Unnamed Revenue Bog, Bal Beg. Bal End, Bal End. Bal Service Revenue Beg Bal End. Bal Rende Regc Raylan received a $56,000 cash advance payment on June 1, Year 1, for consulting services to be performed in the future. Services were to be provided for a one-year term beginning June 1. Year 1, Required a. & b. Record the June 1 cash receipt in T-accounts and the adjustment required as of December 31, Year 1. c. Show the preceding transaction and related adjustment in a horizontal statements model. d. Determine the amount of net income on the Year 1 income statement. What is the amount of net cash flow from operating activities for Year 12 e. What amount of liabilities would Raylan report on the Year 1 balance sheet? Complete this question by entering your answers in the tabs below. Reg A and B Ag c Reg D Reg E Show the preceding transaction and related adjustment in a horizontal statements model. (Enter any decreases to account balances and cash outflow Statement of Cash Flows column, use the initials OA to designate operating activity, FA to designate finance activity, IA to designate investing activity Not all cells require input. Round your answers to the nearest dollar) RAYLAN COMPANY Effect of Transactions on Financial Statements Balance Shoot Income Statement Liabilities Stockholders Revenue Equity Expenses + Not Income Statement of Cash Flow Data Assot 6/1 12/31 Balance Raylan received a $56,000 cash advance payment on June 1, Year 1, for consulting services to be performed in the future. Ser were to be provided for a one-year term beginning June 1, Year 1. Required a. & b. Record the June 1 cash receipt in T-accounts and the adjustment required as of December 31, Year 1 c. Show the preceding transaction and related adjustment in a horizontal statements model d. Determine the amount of net income on the Year 1 income statement. What is the amount of net cash flow from operating act for Year 12 e. What amount of liabilities would Raylan report on the Year 1 balance sheet? Complete this question by entering your answers in the tabs below. Reg A and B Reqc Kreg D Reg E ces Determine the amount of net income on the Year 1 Income statement. What is the amount of net cash flow from operating activities for Year 1? (Do not round Intermediate calculations. Round your final answers to the nearest dollar amount.) Revenue Expenses Not income Cash flows from operating activities: Cash received from revenue Net cash flow from operating activities Raylan received a $56,000 cash advance payment on June 1, Year 1, for consulting services to be performed in the future. Services were to be provided for a one-year term beginning June 1, Year 1, Required a. & b. Record the June 1 cash receipt in T-accounts and the adjustment required as of December 31. Year 1, c. Show the preceding transaction and related adjustment in a horizontal statements model d. Determine the amount of net Income on the Year 1 Income statement. What is the amount of net cash flow from operating activities for Year 1? e. What amount of liabilities would Raylan report on the Year 1 balance sheet? Complete this question by entering your answers in the tabs below. Reg A and B Reg C Reg D Rege What amount of liabilities would Raylan report on the Year 1 balance sheet? (Do not round intermediate calculations. Round your final answer to the nearest dollar amount.) Uneamed revenue