At the beginning of Year 2, Better Corp.'s accounting equation showed the following accounts and balances: BETTER CORP. Accounting Equation Event Balance 1/1/Year 2 Assets 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. Pald cash operating expenses of $42,000. 5. Borrowed $10,000 cash from the bank. b. Cash Land 10,000 20,000 6. Pald a $5,000 cash dividend to the stockholders. 7. Determined that the market value of the land purchased in event 1 is $35,000. Req A 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, llabilities, and stockholders' equity and present this information in the form of an accounting equation. c What is the amount of total assets, llabilities, and stockholders' equity as of January 1. Year 3? Assets Complete this question by entering your answers in the tabs below. Liabilities Notes Payable 12,000 Req B and C 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. What is the amount of total assets, liabilities, and stockholders' equity as of January 1, Year 3? Liabilities + + Stockholders' Equity Common Retained Stock Earnings 7,000 11,000 + Stockholders Equity

At the beginning of Year 2. Better Corp.'s accounting equatson showed the following accounts and balances: Berter Corp. completed the following transactsons durthg Year 2 1. Purchased land for $5,000 cash. 2. Acquired $25,000 cash from the issue of common stock. 3. Recelved $75,000 cash for providing services to customers. 4. Paid cach operating expenses of $42000. 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. Requitred a. Record the transactons in the accounting equation for Year 2 Record the amounts of revenue, expense, and dividends in the Retained Earnings column. Provide the approprlate titles for these accounts in the last column of the table. b. As of December 31, Year 2 determine the total amount of assets, llabilites, and stockholders' equity and present this information in the form of an accounting equation. c. What is the amount of total assets, liablities, and stockholders' equity as of January 1 , Year 3? Complete this question by entering your answers in the tabs below. As of December 31. Year 2. deeermine the total arnount of assets, liabilites, and stochholders' equity and present this information in the form of an accounting equation. What is the amount of total atspts, liabilities, and stochholders' equity as of January 1, Year 3