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The following events apply to Guir Seafood for the Yeal tifscal yeat. 1. The compary...

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Accounting

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The following events apply to Guir Seafood for the Yeal tifscal yeat. 1. The compary started when it acquired $19,000 cash by 15s suing comimon 5 tock 2. Purchased a new cooktop that cost $12.200 cash 3. Eamed $20,500 in cash revenue. 4. Paid $12.900 cash for satanes expense 5. Adjusted the records to reflect the use of the cooktop. Purchased on January tyear 1 the cooktop has an expected useful lde of four years and an estimated salverge value or $2400 use straight-line depreclation the adjusting entry was made as of December 31, Year 1 Required o. Record the above transictions in a honzontal statements modet, b. What amount of depreciation expense would Gul seafood repoit on the yeat 1 income statement? c. What amount of accumulated depreclation would Gulf Seafood report on the December 3t year 2 balance sheet? d. Would the cash flow from operating activities be affected by depreciation in Year 1 ? Complete this question by entering your answers in the tabs below. Record the above transactions in a horizontal statemonts model (th the Cati Flaw columis, indicate whother the itere is an operatiog activity foA) an investing activity cash outlowe with a minus sign. Not at colls will require entry.)

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