Question

Please write a clear answer and Use Microsoft Excel to simplify entries

ent, statement of changes in stockhoilder' equity, balance shece, and sactions and post them to T-sccounts tment of cash flows for Year 1, 25A Effect of transactions on the elements of financial statements Required hof the following independent transactions as asset source (AS, asset use (AU), asset or claims exchange (CE). Also explain bow each event affects assets, liabilities, sock LO 7.4,7.5,76 ncome, and cash flow by placing a +for increase, for decrease, or NA for not ed under each of the categories. The first event is reconded as an examph Type of Common Retained t Cash tock Eaings Income Flow Event Event Assets Liabilities NA NA a. Provided services on account. b. Wrote off an uncollectible account (use the direct write-off method). ctible What Loaned cash to H. Phillips for one year at 6 percent interest. d. Collected cash from customers paying their accounts. e. Paid cash for land. pany charges a service fee. The receipts have not yet been forwarded to the credi card company g. Provided services for cash. h. Paid cash for operating expenses i. Paid cash for salaries expense. J. Recovered an uncollectible account that had been peeviously writen off (assume the direct wrine- ise at a price above cost. Accepted payment by credit cand. The credit cand com- terest cent off method is used to account for uncollectible sccounts). k. Paid cash to creditors on accounts payable. L. Recorded three months of accrued interest on the note receivable (see item ck receipts to the credit card ipts to the credit card company (see item f) and collected cash. .000 a. Sold land at its cost.

You have to answer from letter A to Letter N

Answer 1