Dakota Company experienced the following events during Year 2. 1. Acquired $20,000 cash from the issue of common stock. 2. Paid $25,000 cash to purchase land. 3. Borrowed $10,000 cash. 4. Provided services for $50,000 cash. 5. Paid $1,500 cash for utilities expense. 6. Paid $35,500 cash for other operating expenses. 7. Paid a $5,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $28,000. 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, 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 percentage of assets that were provided by retained earnings. c-2. Can you determine the cash in retained earnings?

Better Corporation completed the following transactions during Year 2: Purchased land for $5,000 cash. Acquired $25,000 cash from the issue of common stock. Received $75,000 cash for providing services to customers. Paid cash operating expenses of $42,000. Borrowed $10,000 cash from the bank. Paid a $5,000 cash dividend to the stockholders. Determined that the market value of the land purchased in event 1 is $35,000. Required a. Record the transactions in the appropriate 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. b. As of December 31, Year 2, determine the total amount of assets, liabilities, and stockholders’ equity and present this information in the form of an accounting equation. c. What is the amount of total assets, liabilities, and stockholders’ equity as of January 1, Year 3?

Presented below are data on three promissory notes. Determine the missing amounts. (Use 360 days for calculation.) (a) (b) (c) Date of Note April 1 July 2 March 7 Terms 60 days 30 days 6 months Maturity Date May 31 August 1 September 7 Principal $570,000 93,600 115,000 Annual Interest Rate 10 % % 11 % $ tA $ Total Interest $702

PTB, Inc. had the following cash flows for the year:  (a)    Purchased land, $140,000 (b)   Borrowed from a local bank, $100,000 (c)    Paid employee salaries, $50,000 (d)   Issued common stock, $75,000 (e)    Paid dividends, $20,000 (f)    Sold equipment, $70,000 (g)   Sold services to customers, $120,000 What amount would PTB report for net investing cash flows in the statement of cash flows?   Select one: a. $20,000 inflow b. $20,000 outflow c. $70,000 outflow d. $40,000 inflow e. $155,000 inflow

Answer only please

Company X’s had cash flows for the year as follows ($ in millions): CASH RECEIVED FROM:   Customers $1,800 Interest on investments 200 Sale of land 100 Sale of common stock 600 Issuance of debt securities 2,000 CASH PAID FOR:   Interest on debt $300 Income tax 80 Debt principal reduction 1,500 Purchase of equipment 4,000 Purchase of inventory 1,000 Dividends on common stock 200 Operating expenses 500 Using the direct method, Company X's would report net cash inflows (outflows) from operating activities in the amount of: ($80) $120 $200 $420

A company reported the following transactions during the year: o Issued bonds worth $100,000 o Paid $20,000 in interest o Purchased a building for $150,000 o Received dividends of $5,000 o Sold equipment for $25,000 Classify these transactions into operating, investing, and financing activities.

Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. Acquired $30,000 cash from the issue of common stock. 2. Borrowed $40,000 cash from National Bank. 3. Earned cash revenues of $48,000 for performing services. 4. Paid cash expenses of $45,000. 5. Paid a $1,000 cash dividend to the stockholders. 6. Acquired an additional $20,000 cash from the issue of common stock. 7. Paid $10,000 cash to reduce the principal balance of the bank note. 8. Paid $53,000 cash to purchase land. 9. Determined that the market value of the land is $75,000. e. Determine the net cash flows from operating activities, investing activities, and financing activities that Maben would report on the Year 1 statement of cash flows. Note: Enter cash outflows as negative amounts. Net cash flows from operating activities Net cash flows from investing activities Net cash flows from financing activities