Question: Problem 2-20A (Algo) Showing how events affect the horizontal financial sta [The following information applies to the questions displayed below.] Maben Company was started on

 Problem 2-20A (Algo) Showing how events affect the horizontal financial sta

Problem 2-20A (Algo) Showing how events affect the horizontal financial sta [The following information applies to the questions displayed below.] Maben Company was started on January 1, Year 1, and experienced the following events 1. Acquired $30,000 cash from the issue of common stock. 2. Borrowed $42,000 cash from National Bank. 3. Earned cash revenues of $58,000 for performing services. 4. Paid cash expenses of $50,000. 5. Paid a $2,000 cash dividend to the stockholders. 6. Acquired an additional $30,000 cash from the issue of common stock. 7. Paid $11,000 cash to reduce the principal balance of the bank note. 8. Paid $51,000 cash to purchase land. 9. Determined that the market value of the land is $71,000. Problem 2-20A (Algo) Part c. Identify the asset source transactions and related amounts for Year 1. Sources of Assets Event Amount Total sources of assets $

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