Carlos Company experienced the following events during its first year of operations. 1. Acquired ($ 16,000) cash

Question:

Carlos Company experienced the following events during its first year of operations.

1. Acquired \(\$ 16,000\) cash from the issue of common stock.

2. Paid \(\$ 3,500\) cash for salary expense.

3. Borrowed \(\$ 10,000\) cash from New South Bank.

4. Paid \(\$ 6,000\) cash to purchase land.

5. Provided boarding services for \(\$ 10,500\) cash.

6. Acquired an additional \(\$ 1,000\) cash from the issue of common stock.

7. Paid \(\$ 2,400\) cash for utilities expense.

8. Paid a \(\$ 1,500\) cash dividend to the stockholders.

9. Provided additional services for \(\$ 6,000\) cash.

10. Purchased additional land for \(\$ 2,500\) cash.

11. The market value of the land was determined to be \(\$ 24,000\) at the end of the accounting period.

Required
Classify each event as an asset source, use, or exchange transaction.

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