Hardt Corporation Began Business Operations and Experienced the Following Transactions

Essay

Hardt Corporation began business operations and experienced the following transactions during 2012:
1)Issued common stock for $10,000 cash.
2)Provided services to customers for $40,000 on account.
3)Incurred $18,000 of operating expenses on credit.
4)Collected $23,000 cash from customers.
5)Paid $15,000 on accounts payable.
Required:
a)Record the above transactions in a horizontal financial statements model to reflect their effect on Hardt's financial statements. b)Prepare an income statement,balance sheet and statement of cash flows for 2012.