Question: need help imputing the information into the balance sheets Dakota Company experienced the following events during Year 2. 1. Acquired $15,000 cash from the issue

need help imputing the information into the balance sheets

the following events during Year 2. 1. Acquired $15,000 cash from the

issue of common stock. 2. Paid $25,000 cash to purchase land. 3.

Borrowed $5,000 cash. 4. Provided services for $50,000 cash. 5. Paid $2,000

cash for utilities expense. 6 . Paid $37,500 cash for other operating

expenses. 7. Paid a $2,500 cash dividend to the stockholders. 8. Determined

that the market value of the land purchased in Event 2 is

now $29,000. Required a. The January 1, Year 2, general ledger account

Dakota Company experienced the following events during Year 2. 1. Acquired $15,000 cash from the issue of common stock. 2. Paid $25,000 cash to purchase land. 3. Borrowed $5,000 cash. 4. Provided services for $50,000 cash. 5. Paid $2,000 cash for utilities expense. 6 . Paid $37,500 cash for other operating expenses. 7. Paid a $2,500 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $29,000. Required a. The January 1, Year 2, general ledger account balances are shown in the following accounting equation. Record the eight events in the appropliate 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 Year 2 accounting period. b-2. Prepare a statement of changes in equity for the Year 2 accounting period. b-3. Prepare a year-end balance sheet for the Year 2 accounting period. b-4. Prepare a statement of cash flows for the Year 2 accounting period. c-1. Determine the percentoge of assets that were provided by retained earnings. c.2. Can you determine the cash in retained earnings? Prepare an income statement for the Year 2 accounting period. Prepare a statement of changes in equity for the Year 2 accounting Determine the percentage of assets that were Note: Round your percentage answer to 1 decin Can you determine the cash in retained earnings

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