Question: Thirteen different accounting events are presented in general journal format. Credit Event Number 1 Account Title Cash Common stock Debit XXX XXX 2 XXX Prepaid

 Thirteen different accounting events are presented in general journal format. Credit
Event Number 1 Account Title Cash Common stock Debit XXX XXX 2

Thirteen different accounting events are presented in general journal format. Credit Event Number 1 Account Title Cash Common stock Debit XXX XXX 2 XXX Prepaid Rent Cash XXX 3 XXX Accounts Receivable Service Revenue 4 XXX Cash Unearned Revenue XX XX xxx XXX Cash Accounts Receivable Supplies Accounts Payable 6 XXX XXX 7 XXX Salaries Expense Cash Xxx xxx Utilities Expense Cash XXX 9 XXX Supplies Expense Supplies XOX 10 XXX Unearned revenue Service revenue XXX 11 XXX Cash Service Revenue XOOX 12 XXX Dividends Cash XOX XXX 13 Rent Expense Prepaid Rent XXX Required Use a horizontal statements model to show how each event affects the balance she The first event is recorded as an example. (Indicate whether the event increases each element of the financial statements. Also, in the Statement of Cash Flows activity, IA for investing activity, FA for financing activity, or leave blank for no et RE LON Service Revenue XXX 12 Dividends Cash XXX 13 XOX Rent Expense Prepaid Rent Required Use a horizontal statements model to show how each event affects the balance sheet income statement, and statement of cash flows The first event is recorded as an example (Indicate whether the event increases (*), decreases (-), or increases and decreases (4) each element of the financial statements. Also, in the Statement of Cash Flows column, use the letters OA to designate operating activity, IA for investing activity, FA for financing activity, or leave blank for no effect. Not all cells require input.) Horizontal Statements Model Balance Sheet Income Statement Stockholders Liabilities + Revenu Equity Expenses Event No. Statement of Cash Flows Assets Net Income + + FA 1 2 3 + 4 5 6 7 8 9 10. 11 12 13 + +

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!