STEP 1 Using the following historical actions, complete a horizontal worksheet of accounting events in the Excel spreadsheet;

1) Paid $30,000 cash for 24 months of rent beginning March 1

2) Sold $27,000 of arcade wristbands at the summer arcade expo with 55% purchased on account

3) Determined that the amount of revenue remaining uncollected at the end of the year was $18,000 and realized the cash receipts.

4) Paid cash to purchase $3,500 of game supplies

5) Reviewed the total supplies to determine that $800 remained on December 31 and recognized the rest as expense

6) Paid cash for $9,000 of arcade technician salaries expense

7) Hired new special events manager for $2,750 per month salary to start on January 1 next year

8) Recognized the expense through December 31 for the rent prepaid in transaction #1 above.

STEP 2 Using the horizontal worksheet results, next build the Income Statement, Statements of Changes in Stockholders Equity, Balance Sheet, and Statements of Cash Flows for all three years.