Diablo Cars maintains a checking account at American Bank. Bank statements are prepared at the end of each month. The December bank statement contained the following information: Balance, December 1 $3,391 Deposits 44,600 Checks processed (43,518) Service charges (38) NSF checks (600) Balance, December 31 $3,835 The checks that were processed by the bank in December include all of the outstanding checks at the end of November except for a check of $295 from a client recorded correctly in the ledger but which had not yet been processed by the bank. The company’s general ledger checking account showed the following for December: $4,768. What should be Diablo car’s adjusted balance on its ledger?

Listed below are several transactions that took place during the first two years of operations for the law firm of pete, pete, and roy.year 1 year 2amounts billed to clients for services rendered $ 170,000 $ 220,000 cash collected from clients 160,000 190,000 cash disbursements salaries paid to employees for services rendered during the year 90,000 100,000 utilities 30,000 40,000 purchase of insurance policy 60,000 0 in addition, you learn that the company incurred utility costs of $35,000 in year 1, that there were no liabilities at the end of year 2, no anticipated bad debts on receivables, and that the insurance policy covers a three-year period.required: 1. & 3. calculate the net operating cash flow for years 1 and 2 and determine the amount of receivables from clients that the company would show in its year 1 and year 2 balance sheets prepared according to the accrual accounting model.2. prepare an income statement for each year according to the accrual accounting model.