Question: Please help me answer this question! Thank you for all your hard work. I always make sure to upvote correct answers- I really appreciate the

Please help me answer this question! Thank you for all your hard work. I always make sure to upvote correct answers- I really appreciate the work you do.

Please help me answer this question! Thank you for all your hard

Doyle Company issued $310,000 of 10-year, 5 percent bonds on January 1, Year 2. The bonds were issued at face value. Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $50,500 of cash revenue, which was collected on December 31 of each year, beginning December 31, Year 2. Exercise 10-6A Part a Required a. Organize the transaction data in accounts under the accounting equation for Year 2 and Year 3. (Enter any decreases to account balances with a minus sign. Not all cells in the "Accounts Titles for Retained Earnings" column may require an input - leave cells blank if there is no corresponding input needed.) DOYLE COMPANY Effect of Events on the Accounting Equation Year 2 and Year 3 Stockholders' Assets = Liabilities + Equity Bonds Land Retained Payable Earnings Event Accounts Titles for Retained Earnings Cash + + Year 2 1/1 + 1/1 + = + 12/31 + = + = 12/31 Bal. + 0 0 + 0 = 0 Year 3 Beg. bal. 12/31 + + + 12/31 End. bal. 0 + 0 = 0

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