(Solved): Exercise 2-13A (Algo) Unearned items on financial statements LO 2-7, 2-8 Yard Designs (YD) experienc ...

Exercise 2-13A (Algo) Unearned items on financial statements LO 2-7, 2-8 Yard Designs (YD) experienced the following events in Year 1, its first year of operation: On October 1, Year 1, YD collected

for consulting services it agreed to provide during the coming year. Adjusted the accounts to reflect the amount of consulting service revenue recognized in Year 1. Required: Based on this information alone: a. Record the events under an accounting equation. b. Prepare an income statement, balance sheet, and statement of cash flows for the Year 1 accounting period. c. Ignoring all other future events, what is the amount of service revenue that would be recognized in Year 2 ? Complete this question by entering your answers in the tabs below. \table[[Req

,\table[[Req B1],[Income],[statement]],\table[[Req B2],[Balance sheet]],\table[[Req B3],[Statement of],[cash flows]],Req C]] Note: Do not round intermediate calculations. Enter any decreases to account balances with a minus sign. Not all cells require Record the events under an accounting equation. input. \table[[YARD DESIGNS],[Accounting Equation Year 1],[Event,Assets,

,Liabilities,+,\table[[Stockholders'],[Equity]]],[Cash,

,\table[[Unearned],[Revenue]],+,Retained Earnings],[Event,,

,,+,],[Adjusting,,

,,+,],[,,

,,+,0]] BCY, SWELL AND HAUL Given the following dimensions, determine the quantity (cy) to be excavated.

Volume bank cubic yard