Question

1 Required information [The following information applies to the questions displayed below.) Sye Chase started and operated a small family architectural firm in Year 1. The firm was affected by two events: (1) Chase provided $19,400 of services on account, and (2) he purchased $3,000 of supplies on account. There were $800 of supplies on hand as of December 31, Year 1. Part 1 of 2 1.17 points Skipped c. Show the above transactions in a horizontal statements model. (Enter any decreases to account balances and cash outflows with a minus sign. In the Cash Flow column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity and NC for net change in cash and select "NA" wherever required.) CHASE ARCHITECTURAL SERVICES Effect of Transactions on the Financial Statements for Year 1 eBook Assets Liabilities Stockholders' Equity Revenue Expense Net Income ច No. Statement of Cash Flow References Common Accounts Receivable + Supplies Accounts Payable Stock Retained Earnings a1. + = -1 a2 = + - = b. + Bal. 0+ 0 = 0+ 0 + 0 이니 0 =

Answer 1

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