Question: This is all one question, using the same data set. Dakota Company experienced the following events during Year 2 1. Acquired $25,000 cash from the

This is all one question, using the same data set.

Company experienced the following events during Year 2 1. Acquired $25,000 cash

from the issue of common stock. 2. Paid $10.000 csh to purchase

land. 3. Borrowed $10,000 cash. 4. Provided services for $35,000cash. 5 .

Poid $2,000 casn for utilities expense 6. Paid $20,000 cash for other

operating expenses 7. Poid a $4,000 cash ulvidend to the stockholders 8.

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

is now $15,000 Required a. The January 1, Year 2, general ledger

Dakota Company experienced the following events during Year 2 1. Acquired $25,000 cash from the issue of common stock. 2. Paid $10.000 csh to purchase land. 3. Borrowed $10,000 cash. 4. Provided services for $35,000cash. 5 . Poid $2,000 casn for utilities expense 6. Paid $20,000 cash for other operating expenses 7. Poid a $4,000 cash ulvidend to the stockholders 8. Determined that the market value of the land purchased in Event 2 is now $15,000 Required a. The January 1, Year 2, general ledger account balances are shown in the following accounting equation. Record the eight events in the appropriate general ledger accounts. Record the amounts of revenue, expense, ond dividends in the Retained Earnings column. Provide the appropriate tites for these accounts in the last column of the table. The first event is shown as an exomple. 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 c1. Determine the percentage of assets that were provided by retained earnings c-2. Can you determine the cash in retained earnings? The Janiuary 5 , Year 2 , general ledger account balances are shown in the following accounting equation. Record the eight events in ledger accounts, Record the amounts of revenue, expense, and dividends in the Retained Earnings column. Provide the appropriate in the last column of the table. The first event is shown as an example. Note: Enter any decreases to account balances with a minus sign. If there is no effect on the Account Titles for Retained Earnings, all cells require input. Complete this question by entering your answers in the tabs below. Prepare an income statement for she Year 2 accounting period. Prepare a statement of changes in equity for, the Year 2 accounting period. Prepare s year-end balance sheet for the Yest 2 accounting period DAKOTA COMPANY Statcmenc of Oash Flows For the Year Ended December 31 , Year 2 Determine the percentage of assets that were provided by retained earnings, Note: Round your percentage answer to 1 decimal place. Can you determine the cash in retained earnings

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