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netineya [11]
2 years ago
15

Dakota Company experienced the following events during Year 2. Acquired $20,000 cash from the issue of common stock. Paid $15,00

0 cash to purchase land. Borrowed $5,000 cash. Provided services for $40,000 cash. Paid $1,000 cash for utilities expense. Paid $30,000 cash for other operating expenses. Paid a $2,000 cash dividend to the stockholders. Determined that the market value of the land purchased in Event 2 is now $17,500. 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
Business
1 answer:
Leona [35]2 years ago
8 0

Answer:

a

Explanation:

is wrong i got it wrong on edg

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11 months ago
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AlladinOne [14]

Answer:

The approximate payment at the end of every month will be $603.22.

Explanation:

Since the payment is going to be made at the end of every month, this can be calculated using the formula for calculating the present value of an ordinary annuity as follows:

PV = P * ((1 - (1 / (1 + r))^n) / r) …………………………………. (1)

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PV = Present value or the balance = Price of BMW - Down payment - Old car sales amount = $54,000 - ($54,000 * 20%) - $10,000 = $33,200

P = Monthly payment = ?

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n = number of months = 60

Substitute the values into equation (1) and solve for P, we have:

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Therefore, the approximate payment at the end of every month will be $603.22.

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