At the beginning of Year 2, Better Corp s accounting equation showed the following accounts and balances BETTER CORP Accounting Equation Event Assets Liabilities Stockholders Equity Accounting Titles for Retained Earnings Cash Land Notes Payable Common Stock Retained Earnings Balance 1 1 Year 2 25,000 35,000 13,500 8,500 38,000 Better Corp completed the following transactions during Year 2 Purchased land for $12,500 cash Acquired $40,000 cash from the issue of common stock Received $79,000 cash for providing services to customers Paid cash operating expenses of $40,500 Borrowed $25,000 cash from the bank Paid a $12,500 cash dividend to the stockholders Determined that the market value of the land purchased in event 1 is $50,000 Required 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 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 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 ) Show less Accounting Equation Accounting Equation for Year 2 Event Assets Liabilities Stockholders Equity Accounts Titles for Retained Earnings Cash Land Notes Payable Common Stock Retained Earnings Balance 1 1 Year 2 25,000 35,000 13,500 8,500 38,000 1 2 3 4 5 6 7 Totals

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At the beginning of Year 2, Better Corp.s accounting equation showed the following accounts and balances: BETTER CORP. Accounting Equation Event Assets = Liabilities +

At the beginning of Year 2, Better Corp.s accounting equation showed the following accounts and balances:

BETTER CORP. Accounting Equation
Event	Assets		=	Liabilities	+	Stockholders Equity		Accounting Titles for Retained Earnings
	Cash	Land		Notes Payable		Common Stock	Retained Earnings
Balance 1/1/Year 2	25,000	35,000		13,500		8,500	38,000

Better Corp. completed the following transactions during Year 2:

Purchased land for $12,500 cash.
Acquired $40,000 cash from the issue of common stock.
Received $79,000 cash for providing services to customers.
Paid cash operating expenses of $40,500.
Borrowed $25,000 cash from the bank.
Paid a $12,500 cash dividend to the stockholders.
Determined that the market value of the land purchased in event 1 is $50,000.

Required

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.
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?

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.)

Show less

Accounting Equation
Accounting Equation for Year 2
Event	Assets			=	Liabilities	+	Stockholders Equity			Accounts Titles for Retained Earnings
	Cash	+	Land	=	Notes Payable	+	Common Stock	+	Retained Earnings	Accounts Titles for Retained Earnings
Balance 1/1/Year 2	25,000	+	35,000	=	13,500	+	8,500	+	38,000
1.		+		=		+		+
2.		+		=		+		+
3.		+		=		+		+
4.		+		=		+		+
5		+		=		+		+
6.		+		=		+		+
7.		+		=		+		+
Totals		+		=		+		+