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  3. yard designs (yd) experienced the following events

Yard Designs (YD) experienced the following events in Year 1, its first year of operation:...

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Accounting

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Yard Designs (YD) experienced the following events in Year 1, its first year of operation: 1. On October 1, Year 1, YD collected $24,000 for consulting services it agreed to provide during the coming year. 2. 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. Record the events under an accounting equation. Note: Do not round intermediate calculations. Enter any decreases to account balances with a minus sign. Not all cells require input

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