Business, 18.06.2020 16:57, lindseydupre
Dakota Company experienced the following events during Year 2018.
1. Acquired $30,000 cash from the issue of common stock.
2. Paid $12,000 cash to purchase land.
3. Borrowed $10,000 cash.
4. Provided services for $20,000 cash.
5. Paid $1,000 cash for utilities expense.
6. Paid $15,000 cash for other operating expenses.
7. Paid a $2,000 cash dividend to the stockholders.
8. Determined that the market value of the land purchased in Event 2 is now $12,700.
Required:
A. The January 1, 2018, 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, and dividends in the Retained Earnings column.
2A. Prepare an income statement for the 2018 accounting period.
2B. Prepare a statement of changes in equity for the 2018 accounting period.
2C. Prepare a year-end balance sheet for the 2018 accounting period.
2D. Prepare a statement of cash flows for the 2018 accounting period.
C. Determine the percentage of assets that were provided by retained earnings. Can you determine the cash in retained earnings?
Answers: 3
Business, 22.06.2019 03:30, Emptypockets451
Joe said “your speech was really great, i loved it.” his criticism lacks which component of effective feedback? a) he did not recognize his ethical obligations b) he did not focus on behavior c) he did not stress the positive d) he did not offer any specifics
Answers: 2
Business, 22.06.2019 04:10, chloeholt123
What is the difference between secure bonds and naked bonds?
Answers: 1
Business, 22.06.2019 10:30, kingyogii
The rybczynski theorem describes: (a) how commodity price changes influence real factor rewards (b) how commodity price changes influence relative factor rewards. (c) how changes in factor endowments cause changes in commodity outputs. (d) how trade leads to factor price equalization.
Answers: 1
Business, 22.06.2019 10:40, charlesrogers38
What would happen to the equilibrium price and quantity of lattés if the cost to produce steamed milk
Answers: 1
Dakota Company experienced the following events during Year 2018.
1. Acquired $30,000 cash from the...
Spanish, 13.07.2019 14:00
Mathematics, 13.07.2019 14:00
English, 13.07.2019 14:00
Biology, 13.07.2019 14:00
Mathematics, 13.07.2019 14:00