Better Corp. completed the following transactions during 2018: 1. Purchased land for $11,000 cash. 2. Acquired...

  

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Better Corp. completed the following transactions during 2018: 1. Purchased land for $11,000 cash. 2. Acquired $37,000 cash from the issue of common stock. 3. Received $76,000 cash for providing services to customers. 4. Pald cash operating expenses of $40,800. 5. Borrowed $22,000 cash from the bank. 6. Paid a $11,000 cash dividend to the stockholders. 7. Determined that the market value of the land purchased in event 1 is $47,000. Required a. Record the transactions 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. b. As of December 31, 2018, determine the total amount of assets, liabilities, and stockholders' equity and present this information in the form of an accounting equation. c. What is the amount of total assets, liabilities, and stockholders' equity as of January 1, 2019? Complete this question by entering your answers in the tabs below. Req A Req B and C Record the transactions 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. (Enter any decreases to account balances with a minus sign. Select "NA" if there is no effect on the "Accounts Titles for Retained Earnings".) Show less Event Balance 1/1/2018 Totals 1. 2. 3. 4. 5 6. 7. Cash Assets + 22,000 + + ++ 22,000 + Land BETTER CORPORATION Accounting Equation for 2018 Liabilities + Notes Payable 32,000 = |||| || 11 32,000 = # + 13,200 + + + + + + 13,200 + Req A Stockholders' Equity Common Stock 8,200 + 8,200 + ++ + Retained Earnings 32,600 32,600 Req B and C > Accounts Titles for Retained Earnings b. Complete this question by entering your answers in the tabs below. C. Req A As of December 31, 2018, determine the total amount of assets, liabilities, and stockholders' equity and present this information in the form of an accounting equation. What is the amount of total assets, liabilities, and stockholders' equity as of January 1, 2019? Req B and C Assets Liabilities Stockholders' Equity < Req A Req Band C > Better Corp. completed the following transactions during 2018: 1. Purchased land for $11,000 cash. 2. Acquired $37,000 cash from the issue of common stock. 3. Received $76,000 cash for providing services to customers. 4. Pald cash operating expenses of $40,800. 5. Borrowed $22,000 cash from the bank. 6. Paid a $11,000 cash dividend to the stockholders. 7. Determined that the market value of the land purchased in event 1 is $47,000. Required a. Record the transactions 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. b. As of December 31, 2018, determine the total amount of assets, liabilities, and stockholders' equity and present this information in the form of an accounting equation. c. What is the amount of total assets, liabilities, and stockholders' equity as of January 1, 2019? Complete this question by entering your answers in the tabs below. Req A Req B and C Record the transactions 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. (Enter any decreases to account balances with a minus sign. Select "NA" if there is no effect on the "Accounts Titles for Retained Earnings".) Show less Event Balance 1/1/2018 Totals 1. 2. 3. 4. 5 6. 7. Cash Assets + 22,000 + + ++ 22,000 + Land BETTER CORPORATION Accounting Equation for 2018 Liabilities + Notes Payable 32,000 = |||| || 11 32,000 = # + 13,200 + + + + + + 13,200 + Req A Stockholders' Equity Common Stock 8,200 + 8,200 + ++ + Retained Earnings 32,600 32,600 Req B and C > Accounts Titles for Retained Earnings b. Complete this question by entering your answers in the tabs below. C. Req A As of December 31, 2018, determine the total amount of assets, liabilities, and stockholders' equity and present this information in the form of an accounting equation. What is the amount of total assets, liabilities, and stockholders' equity as of January 1, 2019? Req B and C Assets Liabilities Stockholders' Equity < Req A Req Band C >

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Cash Land Notes payable Common Stock Retained earnings Accounts title for Reta... View the full answer