1-6A Effect of transactions on general ledger accounts heginning of 2016, Better Corp.s accounting records had the following general ledger ad- An Introduction counts and balances BETTER CORP Accounting Equation Assets != Liabilities + Stockholders' Equity for RE Acct. Titles Event Notes Payable Common Retained Stock Earnings Cash Land Balance 1/1/2016 10,000 20,000 12,000 7,000 11,000 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 S75,000 cash for providing services to customers. 4. Paid cash operating expenses of $42,000. 5. Borrowed $10,000 cash from the bank. 6. Paid a $5,000 cash dividend to the stockholders. . Determined that the market value of the land purchased in event I is $35,000. Required revenue, expense, and dividends in the Retained Earnings column. Provide the appropriate liabilities, and stockholders' . Record the transactions in the appropriate general ledger accounts. Record the amounts of es for these accounts in the last column of the table. s of December 31, 2016, determine the total amount of assets, ity and present this information in the form of an accounting equation. b. A What is the amount of total assets, liabilities, and stockholders' equity as of January 1, 2017? aud recording events