Cordell Inc experienced the following events in year 1, its first year of operation: 1. Received $43000 cash from the issue of common stock. 2. Performed services on account for 71000 3. Paid a 4300 cash dividend to the stockholders 4. Collected 49000 of the accounts receivable 5. Paid 43000 cash for other operating expenses 6. performed services for 14500 cash 7. Recognized 1300 of accrued utilities expense at the end of the year a. & c. Identify the events that result in revenue or expense recognition and those which affect the statement of cash flows. in the Statement of Cash Flows column, use OA to designate operating activity, FA for financing activity, IA for investing activity and NA to indicate the element is not affected by the event. (Enter any decreases to account balances and cash outflows with a minus sign) There is a chart I need to fill in the answers for that looks like this... Event Revenue Expense Statement 1. of Cash Flows 2. 3. 4. 5. 6. 7. b. Determine the amount of net income reported on the Year 1 income statement d. Determine the amount of cash flow from operating activities reported on the Year 1 statement of cash flows e. What is the balance of the retained earnings account that appears on the Year 1 balance sheet? When I posted the question the chart i made got kinda messed up. The chart should have "Event" "Revenue" and "Expense Statement of Cash Flows" all lined up straight across as separate categories. with numbers 1-7 going down the side of the chart. Sorry for the confusion.
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