SQuestion 2-W02 Homework As XSConnectmheducation.com/ext/map/index.html?_con3Dcon&external_ browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghmiddleware%252Guest | BYU-Idaho's Personalizec Xand P IndeedCAS-Central AuthenticationS Monster Jobs*** Degree Programs6 102 High Energy Make..work: Assignment 2 i@ -Learn: Student Da.S Consumer Center& The Ultimate GpanesDakota Company experienced the following events during Year 2.1. 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.Requireda. The January 1, Year 2, general ledger account balances are shown in the following accounting equation. Record the eight events inthe 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. Dețermine the percentage of assets that were provided by retained earnings.c-2. Can you determine the cash in retained earnings?Complete this question by entering your answers in the tabs below.Reg C1Req C2Reg B3Reg B4The January 1, Year 2, general ledger account balances are shown in the following accounting equation. Record the eight events in the appropgeneral ledger accounts. Record the amounts of revenue, expense, and dividends in the Retained Earnings column. Provide the appropriate timthese accounts in the last column of the table. The first event is shown as an example. (Enter any decreases to account balances with a minusthere is no effect on the Account Titles for Retained Earnings, leave the cell blank. Not all cells require input.)Reg B2Reg B1Reg AShoDAKOTA COMPANY Complete this question by entering your answers in the tabs below.Req AReq B1Req B2Req B3Req B4Req C1Req C2ne January 1, Year 2, general ledger account balances are shown in the following accounting equation. Record the eight events in the appropriateeneral ledger accounts. Record the amounts of revenue, expense, and dividends in the Retained Earnings column. Provide the appropriate titles forese accounts in the last column of the table. The first event is shown as an example. (Enter any decreases to account balances with a minus sign.nere is no effect on the Account Titles for Retained Earnings, leave the cell blank. Not all cells require input.)Show lessADAKOTA COMPANYAccounting Equation for Year 2AssetsLiabilitiesStockholders' EquityEventRetainedEarningsAccount Titles for RetainedEarningsNotesCommonStockCashLandPayable/1/Year 22,000 +12,000 =8.0001.30,000+30,000 +2.++.3.+4+.5.6.7.8.32,000 +12,000 =36,000 +8,000talsReq B1

Question

SQuestion 2-W02 Homework As XSConnectmheducation.com/ext/map/index.html?_con3Dcon&external_ browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghmiddleware%252Guest | BYU-Idaho's Personalizec Xand P IndeedCAS-Central AuthenticationS Monster Jobs*** Degree Programs6 102 High Energy Make..work: Assignment 2 i@ -Learn: Student Da.S Consumer Center& The Ultimate GpanesDakota Company experienced the following events during Year 2.1. 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.Requireda. The January 1, Year 2, general ledger account balances are shown in the following accounting equation. Record the eight events inthe 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. Dețermine the percentage of assets that were provided by retained earnings.c-2. Can you determine the cash in retained earnings?Complete this question by entering your answers in the tabs below.Reg C1Req C2Reg B3Reg B4The January 1, Year 2, general ledger account balances are shown in the following accounting equation. Record the eight events in the appropgeneral ledger accounts. Record the amounts of revenue, expense, and dividends in the Retained Earnings column. Provide the appropriate timthese accounts in the last column of the table. The first event is shown as an example. (Enter any decreases to account balances with a minusthere is no effect on the Account Titles for Retained Earnings, leave the cell blank. Not all cells require input.)Reg B2Reg B1Reg AShoDAKOTA COMPANY Complete this question by entering your answers in the tabs below.Req AReq B1Req B2Req B3Req B4Req C1Req C2ne January 1, Year 2, general ledger account balances are shown in the following accounting equation. Record the eight events in the appropriateeneral ledger accounts. Record the amounts of revenue, expense, and dividends in the Retained Earnings column. Provide the appropriate titles forese accounts in the last column of the table. The first event is shown as an example. (Enter any decreases to account balances with a minus sign.nere is no effect on the Account Titles for Retained Earnings, leave the cell blank. Not all cells require input.)Show lessADAKOTA COMPANYAccounting Equation for Year 2AssetsLiabilitiesStockholders' EquityEventRetainedEarningsAccount Titles for RetainedEarningsNotesCommonStockCashLandPayable/1/Year 22,000 +12,000 =8.0001.30,000+30,000 +2.++.3.+4+.5.6.7.8.32,000 +12,000 =36,000 +8,000talsReq B1 >

Accepted Answer

Journal Entry - It is record of every business transaction whether economic or non economic in day…