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Rosie Dry Cleaning was started on January 1, 2018. It experienced the following events during its first two years of operation:

Events Affecting 2018

1. Provided $32,080 of cleaning services on account.
2. Collected $25,664 cash from accounts receivable.
3. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account.

Events Affecting 2019

1. Wrote off a $241 account receivable that was determined to be uncollectible.
2. Provided $37,437 of cleaning services on account.
3. Collected $33,132 cash from accounts receivable.
4. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account.

Required

1. Organize the transaction data in accounts under an accounting equation for each year.
2. Determine the following amounts:

1. (1) Net income for 2018.
2. (2) Net cash flow from operating activities for 2018.
3. (3) Balance of accounts receivable at the end of 2018.
4. (4) Net realizable value of accounts receivable at the end of 2018.

3. Determine the following amounts:

1. (1) Net income for 2019.
2. (2) Net cash flow from operating activities for 2019.
3. (3) Balance of accounts receivable at the end of 2019.
4. (4) Net realizable value of accounts receivable at the end of 2019.

Complete this question by entering your answers in the tabs below. Req A1 Req AZ ReqB ReqC Organize the transaction data in accounts under an accounting equation for year 2018. (Enter any decreases to with a minus sign. If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank.) ROSIE DRY CLEANING Accounting Equation for the Year 2018 Balance Sheet Assets Equity Accounts Allowance Retained Receivable Earnings Event Accounts Titles for Retained Earnings Cash 1. 2 + III 3. + III Bal Req A2 > Complete this question by entering your answers in the tabs below. Reg A1 Req A2 Req B Reqc Organize the transaction data in accounts under an accounting equation for year 2019. (Enter any decreases to acc balances with a minus sign. If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank.) ROSIE DRY CLEANING Accounting Equation for the Year 2019 Balance Sheet Assets Equity Accounts Retained Allowance Receivable Earnings Event Accounts Titles for Retained Earnings Cash Bal 1. + 2 + 11111111111 3. 4. Bal. Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req B Reqc Determine the following amounts for the 2018 accounting period. (Round your answers to nearest whole dol ces Net income Net cash flow from operating activities Balance of accounts receivable Net realizable value of accounts receivable 2 Complete this question by entering your answers in the tabs below. ts Req A1 Req A2 Req B Reqc eBook Determine the following amounts for the 2019 accounting period. (Round your answers to Print ferences Net income Net cash flow from operating activities Balance of accounts receivable Net realizable value of accounts receivable

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