BETTER CORPORATION Accounting Equation Accounts Titles for Event Assets = Liabilities + Stockholders' Equity Retained Earnings Cash Land Notes Payable Common Stock Retained Earnings Beginning BaLance 01/01/Year 2 25, 000 35,000 13,500 8,500 38,000 Better Corporation 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 $2 5,000 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. N991?9'.\".-' Required 3. 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? Complete this question by entering your answers in the tabs below. Required A Required B Required C Required A Required B Required C 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. (Enter any decreases to account balances with a minus sign. Not all cells require entry.) BETTER CORPORATION Accounting Equation for Year 2 Event Assets Liabilities + Stockholders' Equity Accounts Titles for Cash Land Notes Common Retained Retained Earnings Payable Stock Earnings Balance 1/1/Year 2 25,000 + 35,000 = 13,500 + 8,500 + 38,000 1 . + = + 2. + + + 3. + + 4. + 4 5 . 6. + + 7. + + + Totals 25,000 + 35,000 E 13,500 + 8,500 + 38,000 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 oftotal assets, liabilities, and stockholders' equity as of January 1, Year 3? Complete this question by entering your answers in the tabs below. Required A Required B Required 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. Required 3. 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 oftotal assets, liabilities, and stockholders' equity as of January 1, Year 3? 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?