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Rosle Dry Cleaning was started on January 1, Year 1. It experienced the following events during its first two years of operation:

**Events Affecting Year 1:**
1. Provided [tex]\$28,940[/tex] of cleaning services.

Answer :

In Year 1, Rosle Dry Cleaning provided $28,940 of cleaning services. This event represents the revenue generated by the company for the cleaning services it provided to its customers.

Revenue is recognized when services are rendered or goods are delivered, in this case, when the cleaning services were provided. It signifies the company's ability to generate income from its core business activities.

This event would impact the company's financial statements. On the income statement, the revenue of $28,940 would be recorded as part of the total revenue for the year, which would contribute to the calculation of the company's net income. On the balance sheet, the revenue would increase the company's retained earnings, which represents the accumulated profits or losses of the company since its inception.

Recording the revenue from providing cleaning services is essential for accurately reflecting the company's financial performance and providing information to stakeholders about its sales activities and revenue generation.

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