121. In a company's annual report, the reader will find a company's income statement, statement of changes in stockholder's equity, balance sheet, and statement of cash flows. These financial...

121. In a company's annual report, the reader will find a company's income statement, statement of changes in stockholder's equity, balance sheet, and statement of cash flows. These financial statements can help the reader to answer specific questions. Identify which financial statement would be most useful in answering the following questions. If more than one financial statement can answer the question, please identify all applicable statements.
1) How much cash was collected from accounts receivable during the current year?
2) What was the total amount of land owned by the company?
3) What was the total revenue earned by the company during the most recent year?
4) What were the types of claims that the company has against its assets?
5) What was the total amount of cash received by the issuance of common stock?
6) Was the company profitable during the most recent year?
7) What was the amount of cash dividends paid to the stockholders during the most recent year?

8) What was the total amount of cash borrowed by the company during the most recent year?

9) What was the ending balance of retained earnings?
10) What was the amount of change in the cash balance during the current year?

122. The following events apply to Bowman's Cleaning Service for 2016.
1). Issued stock for $44,000 cash.
2). On May 1, paid $27,000 for one year's rent in advance.
3). Purchased on account $4,500 of supplies to be used in the business.
4). Performed services of $68,400 and received cash.
5). At December 31, adjusted the records for the expired rent.
6). At December 31, an inventory of supplies showed that $660 of supplies were still unused.
Required: Draw an accounting equation and record the effects of the above events under the appropriate account headings. Show the year-end total for each account. Precede the amount with a minus sign if the transaction reduces that section of the equation. Enter 0 for items not affected.