CH 3 0 Part 6 Required information Problem 2-20A (Algo) Showing how events affect the horizontal financial statements model LO 2-1 [The following information applies to the questions displayed below) Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1 point Book 1. Acquired $31,000 cash from the issue of common stock 2. Borrowed $43,000 cash from National Bank 3. Eamed cash revenues of 559,000 for performing services 4. Paid cash expenses of $50,500 5. Paid a $2100 cash dividend to the stockholders 6. Acquired an additional $31.000 cash from the issue of common stock 7. Paid $11,000 cash to reduce the principal balance of the bank note 8. Pald $50,000 cash to purchase and 9. Determined that the market value of the land is $70,000 Problem 2-20A (Algo) Part c. Identify the asset source transactions and related amounts for Year 1 B 1. Acquired $31,000 cash from the issue of common stock 2. Borrowed $43,000 cash from National Bank 3. Earned cash revenues of $59,000 for performing services. 4. Paid cash expenses of $50,500. 5. Paid a $2,100 cash dividend to the stockholders. 6. Acquired an additional $31,000 cash from the issue of common stock. 7. Paid $11,000 cash to reduce the principal balance of the bank note. 8. Paid $50,000 cash to purchase land. 9. Determined that the market value of the land is $70,000. of 6 Problem 2-20A (Algo) Part Book c. Identify the asset source transactions and related amounts for Year 1. O erences Sources of Assets Event Amount Total sources of assets $ 0 3 1. Acquired $31,000 cash from the issue of common stock. 2. Borrowed $43,000 cash from National Bank 3. Earned cash revenues of $59,000 for performing services. 4. Paid cash expenses of $50,500. 5. Paid a $2,100 cash dividend to the stockholders. 6. Acquired an additional $31,000 cash from the issue of common stock. 7. Paid $11,000 cash to reduce the principal balance of the bank note. 8. Paid $50,000 cash to purchase land. 9. Determined that the market value of the land is $70,000. art 3 of 6 Dints Problem 2-20A (Algo) Part c eBook c. Identify the asset source transactions and related amounts for Year 1. References Sources of Assets Event Amount 0 1. Issue of stock 2. Cash from loan 3. Cash from revenue 4. Pald expenses