Homework answers / question archive / Required Information The following information applies to the questions displayed below) Alcom Service Company was formed on January 1, 2018 Events Affecting the 2018 Accounting Period 1

Required Information The following information applies to the questions displayed below) Alcom Service Company was formed on January 1, 2018 Events Affecting the 2018 Accounting Period 1

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Required Information The following information applies to the questions displayed below) Alcom Service Company was formed on January 1, 2018 Events Affecting the 2018 Accounting Period 1. Acquired $80,000 cash from the issue of common stock. 2. Purchased $5,200 of suppiles on account. 3. Purchased land that cost $58,000 cash. 4. Pald $5,200 cash to settle accounts payable created in Event 2 5. Recognized revenue on account of $82,000. 6. Pald $41,000 cash for other operating expenses. 7. Collected $58,000 cash from accounts receivable. Information for 2018 Adjusting Entries 8. Recognized accrued salaries of $5,200 on December 31, 2018 9. Had $2,200 of supplies on hand at the end of the accounting period. es Events Affecting the 2019 Accounting Period 1. Acquired $40,000 cash from the issue of common stock 2. Pald $5.200 cash to settle the salaries payable obligation 3. Paid $9,600 cash in advance to lease office space. 4. Sold the land that cost $58,000 for $58,000 cash 5. Received $10,800 cash in advance services to be perfon 6. Purchased $3,000 of supplies on account during the year. 7. Provided services on account of $52,000 8. Collected $53,000 cash from accounts receivable. 9. Pald a cash dividend of $6.000 to the stockholders. 10. Pald other operating expenses of $39.500. In the future Information for 2019 Adjusting Entries 11. The advance payment for rental of the office space (see Event 3) was made on March 1for a one-year term. 12. The cash advance for services to be provided in the future was collected on October 1(see Event 5). The one year contract started on October 1 13. Had $2,300 of supplies remaining on hand at the end of the period. 14. Recognized accrued salaries of $5.900 at the end of the accounting period 15. Recognized $2.400 of accrued interest revenue. b-1. Prepare an income statement for 2018 and 2019. 5-2. Prepare the statement of changes in stockholders' equ ty for 2018 and 2019 b-3. Prepare the balance sheet for 2018 and 2019 b-4. Prepare the statement of cash flows for 2018 and 2019, using the vertical statements mode