Carlos Company experienced the following events during its first year of operations. 1. Acquired ($ 16,000) cash
Question:
Carlos Company experienced the following events during its first year of operations.
1. Acquired \(\$ 16,000\) cash from the issue of common stock.
2. Paid \(\$ 3,500\) cash for salary expense.
3. Borrowed \(\$ 10,000\) cash from New South Bank.
4. Paid \(\$ 6,000\) cash to purchase land.
5. Provided boarding services for \(\$ 10,500\) cash.
6. Acquired an additional \(\$ 1,000\) cash from the issue of common stock.
7. Paid \(\$ 2,400\) cash for utilities expense.
8. Paid a \(\$ 1,500\) cash dividend to the stockholders.
9. Provided additional services for \(\$ 6,000\) cash.
10. Purchased additional land for \(\$ 2,500\) cash.
11. The market value of the land was determined to be \(\$ 24,000\) at the end of the accounting period.
Required
Classify each event as an asset source, use, or exchange transaction.
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