Better Corp. (BC) began operations on January 1, Year 1. During Year 1, BC experienced the following accounting events: 1. Acqui
red $7,000 cash from the issue of common stock. 2. Borrowed $12,000 cash from the State Bank. 3. Collected $47000 cash as a result of providing services to customers. 4. Pald $30,000 for operating expenses 5. Paid an $8,000 cash dividend to the stockholders. 6. Paid $20,000 cash to purchase land. Required a. Record the events in an accounting equation like the one shown next. Record the ined Earnings column. Provide the appropriate titles for these accounts in the last column of the table. The first event is shown amounts of revenue, expense, and dividends in as an example. (Enter any decreases to account balances with a minus sign. Select "NA" if there is no effect on the "Accounts Titles for Retained Earnings") BETTER CORP. Accounting Equation for Year 1 Assets Stockholders Equity Event Cash Land Notes Payable + Common Stock : + : Retained Account Tities for = Earnings R Beg. Bai. O NA 1. Issued stock 2. Borrowed Loan 3. Provided Service 4. Paid operating expenses 5. Paid dividend 6. Land purchase < Prev 80f 8 Next
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