As of December 31, 2018, determine the total amount of assets, liabilities, and stockholders equity and present this information in the form of an accounting equation. What is the amount of total assets, liabilities, and stockholders equity as of January 1, 2019?
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| | | | Assets | = | Liabilities | + | Stockholders Equity | | b. | | = | | + | | | c. | | = | | + | | |
Chapter 1 - Assessment A Saved At the beginning of 2018, Better Corp.'s accounting records had the following general ledger accounts and balances: 7 Accounting Titles for Retained Earnings Event BETTER CORP. Accounting Equation Liabilities Stockholders' Equity Notes Common Retained Payable Stock Earnings 13,500 8,500 38,000 Assets 8 03:10:25 Balance 1/1/2018 Cash Land 25,000 35,000 Better Corp. completed the following transactions during 2018: 1. Purchased land for $12,500 cash. 2. Acquired $40,000 cash from the issue of common stock. 3. Received $79,000 cash for providing services to customers. Chapter 1 - Assessment i Saved 7. Determined that the market value of the land purchased in event 1 is $50,000. 7 Required a. Record the transactions in the appropriate general ledger accounts. Record the amounts of revenue, expense, and divic Retained Earnings column. Provide the appropriate titles for these accounts in the last column of the table. b. As of December 31, 2018, determine the total amount of assets, liabilities, and stockholders' equity and present this info the form of an accounting equation. c. What is the amount of total assets, liabilities, and stockholders' equity as of January 1, 2019? % 03:10:24 Complete this question by entering your answers in the tabs below. Req A Req B and C Chapter 1 - Assessment A Saved 7 Event Assets BETTER CORPORATION Accounting Equation for 2018 - Liabilities + Stockholders' Equity Notes Common Retained Land Payable Stock Earnings 35,000 = 13,500 + 8,500 + 38,000 + Accounts Titles for Retained Earnings Cash + + + Balance 1/1/2018 25,000 + 8 03:10:24 1. + 2. + + + 3. + + + + + 4. + 5 + + 6. + + 7. Totals Req A Req B and C> Chapter 1 - Assessment A Saved At the beginning of 2018, Better Corp.'s accounting records had the following general ledger accounts and balances: 7 Accounting Titles for Retained Earnings Event BETTER CORP. Accounting Equation Liabilities Stockholders' Equity Notes Common Retained Payable Stock Earnings 13,500 8,500 38,000 Assets 8 03:10:25 Balance 1/1/2018 Cash Land 25,000 35,000 Better Corp. completed the following transactions during 2018: 1. Purchased land for $12,500 cash. 2. Acquired $40,000 cash from the issue of common stock. 3. Received $79,000 cash for providing services to customers. Chapter 1 - Assessment i Saved 7. Determined that the market value of the land purchased in event 1 is $50,000. 7 Required a. Record the transactions in the appropriate general ledger accounts. Record the amounts of revenue, expense, and divic Retained Earnings column. Provide the appropriate titles for these accounts in the last column of the table. b. As of December 31, 2018, determine the total amount of assets, liabilities, and stockholders' equity and present this info the form of an accounting equation. c. What is the amount of total assets, liabilities, and stockholders' equity as of January 1, 2019? % 03:10:24 Complete this question by entering your answers in the tabs below. Req A Req B and C Chapter 1 - Assessment A Saved 7 Event Assets BETTER CORPORATION Accounting Equation for 2018 - Liabilities + Stockholders' Equity Notes Common Retained Land Payable Stock Earnings 35,000 = 13,500 + 8,500 + 38,000 + Accounts Titles for Retained Earnings Cash + + + Balance 1/1/2018 25,000 + 8 03:10:24 1. + 2. + + + 3. + + + + + 4. + 5 + + 6. + + 7. Totals Req A Req B and C>
