428 At the beginning of Year 2, Better Corp's accounting equation showed the following accounts and balances BETTER CORP. Accounting Equation Assets Liabilities Stockholders' Equity Accounting Titles for Retained Earnings Notes Connon Event Cash Land Payable Stock Retained Earnings Balance 1/1/Year 2 10,000 20,000 12,000 7,000 11,000 Better Corp. completed the following transactions during Year 2 1. Purchased land for $5,000 cash. 2. Acquired $25,000 cash from the issue of common stock 3. Received $75,000 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 7. Determined that the market value of the land purchased in event 1 is $35,000 Required a. Record the transactions in the accounting equation for Year 2. 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 b. As of December 31, Year 2, determine the total amount of assets, liabilities, and stockholders' equity and present this information in the form of an accounting equation e. What is the amount of total assets, liabilities, and stockholders' equity as of January 1, Year 3 Answer is not complete. Complete this question by entering your answers in the tabs below. A Ms Recond the transactions in the accounting equation for Year 2. Recond the amounts of revenue, expense, and dividends in the Retained Eaming col Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate com 3 the form or an accounting equation. c. What is the amount of total assets, liabilities, and stockholders' equity as of January 1, Year 3? 28 21 Answer is not complete. Complete this question by entering your answers in the tabs below. Req A Req B and C Record the transactions in the accounting equation for Year 2. 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. (Enter any decreases to account balances with a minus sign. If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank. Not all cells require input.) BETTER CORPORATION Accounting Equation for Year 2 Event Assets Cash Land Balance 1/1/Year 2 10,000 20,000 10000) 2 3.1 4 . . 5. . 6. + 7 88 80 Totals " Liabilities Stockholders' Equity Notes Payable Common Stock Accounts Titles for Retained + Earnings Retained Earnings 12.000 + 7,000 " 11.000 + . 10 + . . W + + 20,000 12.000 + 7,000 + 11,000 Req B and C > 3 14.28 points 1. Purchased land for $5,000 cash 2. Acquired $25,000 cash from the issue of common stock 3. Received $75.000 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 7. Determined that the market value of the land purchased in event 1 is $35,000 Required a. Record the transactions in the accounting equation for Year 2. 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. b. As of December 31, Year 2, determine the total amount of assets, abilities, and stockholders' equity and present this information in the form of an accounting equation c. What is the amount of total assets, abilities, and stockholders' equity as of January 1, Year 3? Answer is not complete. Complete this question by entering your answers in the tabs below. Reg Red Band C As of December 31, Year 2, determine the total amount of assets, labilities, and stockholders' equity and present this information in the form of an accounting equation. What is the amount of total assets, labilities, and stockholders' equity a of January 1, Year 37 Asseh Liabilities Equity