Question

Resources Presenter Info Stude Slide D. 4424 Step 23 of 40: Transaction # 2 MNOP Protos Latese Shareholder's Equity Common Retained Little Stock ani Accounts Receable Cash Your turn Transaction 2 OUTLINE Nunya Business performed services for one month on account. (The amount of this revenue is your spreadsheet multiplied by 100, divided by 12, and rounded to the nearest 51.000.) Use a formula within the corresponding worksheet cells to calculate this amount. Search 13 Even though no cash was received revenue must be recorded since the revenue recognition rules have been met (it has been earned and it is reasonable to expect payment) After you record this transaction: The amounts will be based on formulas in the worksheet cells, as opposed to numbers that you've calculated outside of Excel and then manually input The check formule should return TRUE Make a selection from column to indicate the transaction's impact on cash flow, it any Choose an account name from column Rif appropriate Horizontal financial statement once shen come statement Chant of accounts Students We're here to help. Email us at support students excel.com 0004700- 4 0 < PREV NEXT >

Answer 1

In figures:

Assets

Liabilities + Stockholder's Equity

Profit and Loss

Accounts

Common

Retained

Net

Cash

Cash

+

Receivable

=

Liabilities

+

Stock

+

Earnings

Revenue

-

Expenses

=

Income

Flow

1)

$ 17,600.00

$ 17,600.00

F.A

(Financing Activity)

2)

$       14,667

$       14,667

$       14,667

$       14,667

With formula:

N O Profit and Loss Assets Accounts + Receivable Liabilities + Stockholder's Equity Common Retained + Stock + Earnings Net = Income Cash Flow Cash = Liabilities Revenue Expenses =1760*10 =1760*10 F.A (Financing Activity) 61) 7 2) = (1760*100)/12 = (1760*100)/12 =(1760*100)/12 =(1760*100)/12