Business, 25.02.2021 18:20 smithtamarshae
Dakota Company experienced the following events during Year 2. Acquired $30,000 cash from the issue of common stock. Paid $12,000 cash to purchase land. Borrowed $10,000 cash. Provided services for $20,000 cash. Paid $1,000 cash for utilities expense. Paid $15,000 cash for other operating expenses. Paid a $2,000 cash dividend to the stockholders. Determined that the market value of the land purchased in Event 2 is now $12,700.
Required:
a. The January 1, 2018, general ledger account balances are shown in the following accounting equation. Record the eight events in the appropriate general ledger accounts. Record the amounts of revenue, expense, and dividends in the Retained Earnings column. Provide the appropriate titles for these accounts in the last column of the table. The first event is shown as an example.
b-1 Prepare an income statement for the 2018 accounting period.
b-2 Prepare a statement of changes in equity for the 2018 accounting period.
b-3 Prepare a year-end balance sheet for the 2018 accounting period.
b-4 Prepare a statement of cash flows for the 2018 accounting period.
c. Determine the percentage of assets that were provided by retained earnings. Can you determine the cash in retained earnings?
Answers: 2
Business, 22.06.2019 10:50, hsjsjsjdjjd
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Business, 22.06.2019 12:10, huangjianhe135
The following transactions occur for badger biking company during the month of june: a. provide services to customers on account for $32,000. b. receive cash of $24,000 from customers in (a) above. c. purchase bike equipment by signing a note with the bank for $17,000. d. pay utilities of $3,200 for the current month. analyze each transaction and indicate the amount of increases and decreases in the accounting equation. (decreases to account classifications should be entered as a negative.)
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Business, 22.06.2019 12:30, sloane50
land, a building and equipment are acquired for a lump sum of $ 1,000,000. the market values of the land, building and equipment are $ 300,000, $ 800,000 and $ 300,000, respectively. what is the cost assigned to the equipment? (do not round any intermediary calculations, and round your final answer to the nearest dollar.)
Answers: 1
Dakota Company experienced the following events during Year 2. Acquired $30,000 cash from the issue...
Mathematics, 17.05.2021 21:20
Mathematics, 17.05.2021 21:20