• 	Assets			=	Liabilities	+	Stockholder's Equity
  	Cash	+	Land		Notes Payable		Common Stocks		Retained Earnings	Affected Account
  Balances	$ 2,000	+	$ 12,000	=	$ -	+	$ 6,000	+	$ 8,000
  1	$ 30,000	+		=		+	$ 30,000	+
  2		+		=		+		+
  3		+		=		+		+
  4		+		=		+		+
  5		+		=		+		+
  6		+		=		+		+
  7		+		=		+		+
  8		+		=		+		+
  Totals		+		=		+		+

  Company transactions during the accounting period:
  1. Acquired cash from common stock issuance. $30,000
  2. Paid cash a portion of land. $12,000
  3. Borrowed cash to pay later. $10,000
  4. Provided professional services that wer paid in cash. $20,000
  5. Paid the rent expense in cash. $1,000
  6. Paid the operating expenses in cash. $15,000
  7. Paid the dividends to the stockholders in cash. $2,000
  8. Determined the fair market value of the portion of land has increased. $12,700

  Actions to take:
  1. Register the transactions.
  2. Identify the accounts affected.
  3. Prepare the Income Statement
  4. Prepare the Statement of Changes in Stockholder's Equity
  5. Prepare the Balance Sheet