Question: Can i get help for this question? Please put you answers in table form just as the question to help me understand better and answer

Can i get help for this question? Please put you answers in table form just as the question to help me understand better and answer accordingly. Thank you

 Can i get help for this question? Please put you answers

in table form just as the question to help me understand better

and answer accordingly. Thank you Dakota Company experienced the following events during

2018: 1. Acquired $10,000 cash from the issue of common stock. 2.

Paid $10,000 cash to purchase land. 3. Borrowed $5,000 cash 4. Provided

services for $38,000 cash. 5. Paid $1,000 cash for utilities expense 6.

Paid $30,000 cash for other operating expenses. 7. Paid a $2,000 cash

dividend to the stockholders. 8. Determined that the market value of the

Dakota Company experienced the following events during 2018: 1. Acquired $10,000 cash from the issue of common stock. 2. Paid $10,000 cash to purchase land. 3. Borrowed $5,000 cash 4. Provided services for $38,000 cash. 5. Paid $1,000 cash for utilities expense 6. Paid $30,000 cash for other operating expenses. 7. Paid a $2,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $17,500. 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

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!