At the beginning of Year 2, Better Corp.s accounting records had the following general ledger 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 01/01/Year 2	24,000	34,000		13,400		8,400	36,200

Better Corp. completed the following transactions during Year 2:

1. Purchased land for $12,000 cash.
2. Acquired $39,000 cash from the issue of common stock.
3. Received $78,000 cash for providing services to customers.
4. Paid cash operating expenses of $40,600.
5. Borrowed $24,000 cash from the bank.
6. Paid a $12,000 cash dividend to the stockholders.
7. Determined that the market value of the land purchased in event 1 is $49,000.

Required a. Record the transactions in the appropriate general ledger accounts. 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. c. What is the amount of total assets, liabilities, and stockholders equity as of January 1, Year 3?

Event Assets BETTER CORPORATION Accounting Equation for Year 1 Liabilities Stockholders' Equity Notes Land Common Retained Payable Stock Earnings 34,000 = 13,400 + 8,400 + 36,200 Accounts Titles for Retained Earnings Cash + + 24,000 + Balance 1/1/Year 2 1. 2. + + + + + 3. + 4. + + + + + + + + 6. 7. + + Totals Required A Required B Required C As of December 31, Year 2, determine the total amount of assets, liabilities, and stockholders' equity and present thi information in the form of an accounting equation. Assets Liabilities Stockholders' Equity Complete this question by entering your answers in the tabs below. Required A Required B Required C What is the amount of total assets, liabilities, and stockholders' equity as of January 1, Year 3? Assets Liabilities Stockholders' Equity