Homework Answers
| Land account | |||
| To cash | 7000 | ||
| To revaluation | 32000 | ||
| By balance c/d | 39000 | ||
| TOTAL | 39000 | TOTAL | 39000 |
|
Cash account |
|||
| To common stock a/c | 29000 | By land | 7000 |
| To service revenue a/c | 68000 | By operating exp | 41600 |
| To loan from bnk | 14000 | By cash dividends | 7000 |
| By balance c/d | 55400 | ||
| 111000 | 111000 | ||
| Common stock a/c | |||
| By cash | 29000 | ||
| To balance c/d | 29000 | ||
| 29000 | 29000 | ||
|
Service revenue a/c |
|||
| By cash | 68000 | ||
| To bal. c/d | 68000 | ||
| 68000 | 68000 | ||
| Operating expense a/c | |||
| To cash | 41600 | ||
| By balance c/d | 41600 | ||
| 41600 | 41600 | ||
|
Loan from Bank |
|||
| By cash a/c | 14000 | ||
| To balance c/d | 14000 | ||
| 14000 | 14000 | ||
| Dividends to shareholders | |||
| To cash a/c | 7000 | ||
| By balance c/d | 7000 | ||
| 7000 | 7000 | ||
|
Revaluation reserve a/c |
|||
| By land a/c | 32000 | ||
| To bal. c/d | 32000 | ||
| 32000 | 32000 | ||
| Service revenue | 68000 |
| Revaluation reserve | 32000 |
| less: Operating exp. | -41600 |
| less: Dividends | -7000 |
| Retained earnings | 51400 |
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Better Corp.completed the following transactions during Year 2: 1. Purchased land for $7,000 cash. 2. Acquired...
Check my Accounting Titles for Retained Earnings Event Assets Land 26,000 Cash 16,000 Liabilities Notes Payable...
Check my Accounting Titles for Retained Earnings Event Assets Land 26,000 Cash 16,000 Liabilities Notes Payable 12,600 Stockholders' Equity Common Stock Retained Earnings 7,600 21,800 Balance 01/01/Year 2 Better Corp.completed the following transactions during Year 2: 1. Purchased land for $8,000 cash. 2. Acquired $31.000 cash from the issue of common stock 3. Received $70,000 cash for providing services to customers. 4. Paid cash operating expenses of $41,400. 5. Borrowed $16,000 cash from the bank. 6. Pald a $8.000 cash...
Retained Earnings Notes Payable 12,600 Cash 16,000 Land 26,000 Balance 1/1/2018 Common Stock 7,600 21,800 Better...
Retained Earnings Notes Payable 12,600 Cash 16,000 Land 26,000 Balance 1/1/2018 Common Stock 7,600 21,800 Better Corp. completed the following transactions during 2018: 1. Purchased land for $8,000 cash, 2. Acquired $31,000 cash from the issue of common stock. 3. Received $70,000 cash for providing services to customers. 4. Paid cash operating expenses of $41,400. 5. Borrowed $16,000 cash from the bank. 6. Paid a $8,000 cash dividend to the stockholders. 7. Determined that the market value of the land...
At the beginning of 2018, Better Corp.'s accounting records had the following general ledger accounts and...
At the beginning of 2018, Better Corp.'s accounting records had the following general ledger accounts and balances: BETTER CORP. Accounting Equation Event Assets = Accounting Titles for Retained Earnings + Liabilities Notes Payable 12,000 Cash Land 10,000 20,000 Stockholders' Equity Common Retained Stock Earnings 7,000 11,000 Balance 1/1/2018 Better Corp. completed the following transactions during 2018: 1. Purchased land for $5,000 cash. 2. Acquired $25,000 cash from the issue of common stock. 3. Received $75,000 cash for providing services to...
At the beginning of Year 2, Better Corp.’s accounting records had the following general ledger accounts...
At the beginning of Year 2, Better Corp.’s accounting records
had the following general ledger accounts and balances.
Better Corp. completed the following transactions during Year
2:
Purchased land for $6,000 cash.
Acquired $27,000 cash from the issue of common stock.
Received $66,000 cash for providing services to customers.
Paid cash operating expenses of $41,800.
Borrowed $12,000 cash from the bank.
Paid a $6,000 cash dividend to the stockholders.
Determined that the market value of the land purchased in event...
Check m At tne beginning or rear 2, Better Corp.s accounting recoras naa tne roliowing generai...
Check m At tne beginning or rear 2, Better Corp.s accounting recoras naa tne roliowing generai ieager accounts ana Daiances BETTER CORP. Accounting Equation Event Assets Liabilities Accounting Titles for Retained Earnings Stockholders' Equity Land 20,000 Cash Notes Payable Common Stock Retained Earnings 11,000 Balance 01/01/Year 2 10,000 12,000 7,000 Better Corp. completed the following transactions during Year 2: 1 Purchased land for $5,000 cash. 2. Acquired $25,000 cash from the issue of common stock 3. Received $75,000 cash for...
t the beginning of Year 2, Better Corp's accounting records had the following general ledger accounts...
t the beginning of Year 2, Better Corp's accounting records had the following general ledger accounts and balances. BETTER CORP. Accounting Equation . Liabilities+ Stockholders Equity stockR Event Assets Cash 24,000 Retained Earnings Land 34,000 Balance 01/01/Year 2 13,400 8,400 36,200 Better Corp. completed the following transactions during Year: 1. Purchased land for $12,000 cash. 2. Acquired $39,000 cash from the issue of common stock 3. Received $78,000 cash for providing services to customers. 4. Paid cash operating expenses of...
At the beginning of Year 2, Better Corp.'s accounting records had the following general ledger accounts...
At the beginning of Year 2, Better Corp.'s accounting records had the following general ledger accounts and balances. BETTER CORP Accounting Equation Accounting Titles for Retained Earnings Event Liabilities + Notes Payable Common Stock Retained Earnings Assets Stockholders' Equit Cash 15,000 Land 25,000 Balance 01/01/Year 2 12,500 7,500 20,000 Better Corp. completed the following transactions during Year 2: 1. Purchased land for $7,500 cash. 2. Acquired $30,000 cash from the issue of common stock. 3. Received $69,000 cash for providing...
At the beginning of 2016, Better Corp.'s accounting records had the following general ledger accounts and...
At the beginning of 2016, Better Corp.'s accounting records had the following general ledger accounts and balances. BETTER CORP. Accounting Equation Accounting Titles for Retained Eaminga Event Assets = Liabilities + Stockholders' Equity Cash 10,000 Land 20,000 Notes Payable 12,000 Common Retained Stock Earnings 7,000 11,000 Balance 1/1/2016 Better Corp. completed the following transactions during 2016: 1. Purchased land for $5,000 cash. 2. Acquired $25,000 cash from the issue of common stock. 3. Received $75,000 cash for providing services to...
At the beginning of 2018, Better Corp.'s accounting records had the following general ledger accounts and...
At the beginning of 2018, Better Corp.'s accounting records had the following general ledger accounts and balances: BETTER CORP. Accounting Equation Event Assets = + Accounting Titles for Retained Earnings Liabilities Notes Payable 12,100 Cash Land 11,000 21,000 - Stockholders' Equity Common Retained Stock Earnings 7,100 12,800 Balance 1/1/2018 Better Corp. completed the following transactions during 2018: 1. Purchased land for $5,500 cash. 2. Acquired $26,000 cash from the issue of common stock. 3. Received $65,000 cash for providing services...
At the beginning of 2018, Better Corp's accounting records had the following general ledger accounts and...
At the beginning of 2018, Better Corp's accounting records had the following general ledger accounts and balances: CORP Event Assets BETTER CORP. Accounting Equation Liabilities + Stockholders' Equity Notes Common Retained Payable S tock Earnings 8,300 34,400 Accounting Titles for Retained Earnings Balance 1/1/2018 Cash Land 23,000 33,000 13,300 Better Corp. completed the following transactions during 1. Purchased land for $11,500 cash. 2. Acquired $38,000 cash from the issue of common stock 3. Received $77,000 cash for providing services to...
Check my Accounting Titles for Retained Earnings Event Assets Land 26,000 Cash 16,000 Liabilities Notes Payable 12,600 Stockholders' Equity Common Stock Retained Earnings 7,600 21,800 Balance 01/01/Year 2 Better Corp.completed the following transactions during Year 2: 1. Purchased land for $8,000 cash. 2. Acquired $31.000 cash from the issue of common stock 3. Received $70,000 cash for providing services to customers. 4. Paid cash operating expenses of $41,400. 5. Borrowed $16,000 cash from the bank. 6. Pald a $8.000 cash...
Retained Earnings Notes Payable 12,600 Cash 16,000 Land 26,000 Balance 1/1/2018 Common Stock 7,600 21,800 Better Corp. completed the following transactions during 2018: 1. Purchased land for $8,000 cash, 2. Acquired $31,000 cash from the issue of common stock. 3. Received $70,000 cash for providing services to customers. 4. Paid cash operating expenses of $41,400. 5. Borrowed $16,000 cash from the bank. 6. Paid a $8,000 cash dividend to the stockholders. 7. Determined that the market value of the land...
At the beginning of 2018, Better Corp.'s accounting records had the following general ledger accounts and balances: BETTER CORP. Accounting Equation Event Assets = Accounting Titles for Retained Earnings + Liabilities Notes Payable 12,000 Cash Land 10,000 20,000 Stockholders' Equity Common Retained Stock Earnings 7,000 11,000 Balance 1/1/2018 Better Corp. completed the following transactions during 2018: 1. Purchased land for $5,000 cash. 2. Acquired $25,000 cash from the issue of common stock. 3. Received $75,000 cash for providing services to...
At the beginning of Year 2, Better Corp.’s accounting records
had the following general ledger accounts and balances.
Better Corp. completed the following transactions during Year
2:
Purchased land for $6,000 cash.
Acquired $27,000 cash from the issue of common stock.
Received $66,000 cash for providing services to customers.
Paid cash operating expenses of $41,800.
Borrowed $12,000 cash from the bank.
Paid a $6,000 cash dividend to the stockholders.
Determined that the market value of the land purchased in event...
Check m At tne beginning or rear 2, Better Corp.s accounting recoras naa tne roliowing generai ieager accounts ana Daiances BETTER CORP. Accounting Equation Event Assets Liabilities Accounting Titles for Retained Earnings Stockholders' Equity Land 20,000 Cash Notes Payable Common Stock Retained Earnings 11,000 Balance 01/01/Year 2 10,000 12,000 7,000 Better Corp. completed the following transactions during Year 2: 1 Purchased land for $5,000 cash. 2. Acquired $25,000 cash from the issue of common stock 3. Received $75,000 cash for...
t the beginning of Year 2, Better Corp's accounting records had the following general ledger accounts and balances. BETTER CORP. Accounting Equation . Liabilities+ Stockholders Equity stockR Event Assets Cash 24,000 Retained Earnings Land 34,000 Balance 01/01/Year 2 13,400 8,400 36,200 Better Corp. completed the following transactions during Year: 1. Purchased land for $12,000 cash. 2. Acquired $39,000 cash from the issue of common stock 3. Received $78,000 cash for providing services to customers. 4. Paid cash operating expenses of...
At the beginning of Year 2, Better Corp.'s accounting records had the following general ledger accounts and balances. BETTER CORP Accounting Equation Accounting Titles for Retained Earnings Event Liabilities + Notes Payable Common Stock Retained Earnings Assets Stockholders' Equit Cash 15,000 Land 25,000 Balance 01/01/Year 2 12,500 7,500 20,000 Better Corp. completed the following transactions during Year 2: 1. Purchased land for $7,500 cash. 2. Acquired $30,000 cash from the issue of common stock. 3. Received $69,000 cash for providing...
At the beginning of 2016, Better Corp.'s accounting records had the following general ledger accounts and balances. BETTER CORP. Accounting Equation Accounting Titles for Retained Eaminga Event Assets = Liabilities + Stockholders' Equity Cash 10,000 Land 20,000 Notes Payable 12,000 Common Retained Stock Earnings 7,000 11,000 Balance 1/1/2016 Better Corp. completed the following transactions during 2016: 1. Purchased land for $5,000 cash. 2. Acquired $25,000 cash from the issue of common stock. 3. Received $75,000 cash for providing services to...
At the beginning of 2018, Better Corp.'s accounting records had the following general ledger accounts and balances: BETTER CORP. Accounting Equation Event Assets = + Accounting Titles for Retained Earnings Liabilities Notes Payable 12,100 Cash Land 11,000 21,000 - Stockholders' Equity Common Retained Stock Earnings 7,100 12,800 Balance 1/1/2018 Better Corp. completed the following transactions during 2018: 1. Purchased land for $5,500 cash. 2. Acquired $26,000 cash from the issue of common stock. 3. Received $65,000 cash for providing services...
At the beginning of 2018, Better Corp's accounting records had the following general ledger accounts and balances: CORP Event Assets BETTER CORP. Accounting Equation Liabilities + Stockholders' Equity Notes Common Retained Payable S tock Earnings 8,300 34,400 Accounting Titles for Retained Earnings Balance 1/1/2018 Cash Land 23,000 33,000 13,300 Better Corp. completed the following transactions during 1. Purchased land for $11,500 cash. 2. Acquired $38,000 cash from the issue of common stock 3. Received $77,000 cash for providing services to...
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