Ch $1$ Graded Homework

i

$2$

b$.$ As of December $31,$ Year $2,$ determine the total amount of assets, liabilities, and stockholders' equity and present this information 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.

Req A

Record the transactions in the accounting equation for Year $2.$ Record the amounts of revenue, expense, and dividends in the Retained $E_i$ Provide the appropriate titles for these accounts in the last column of the table.

Note: Enter any decreases to account balances with a minus sign. Leave cells blank if no input is needed.

References

$\backslash$table$[[$BETTER CORPORATION$],[$Accounting Equation for Year $2],[$Event$,$Assets,$=,\backslash$table$[[\backslash$table$[[$Liabilities$],[$Notes$],[$Payable$]]]],+,$Stockholders' Equity,$\backslash$table$[[$Account Titles for$],[$Retained Earnings$]]],[$Cash$,+,$Land,$\backslash$table$[[$Common$],[$Stock$]],+,\backslash$table$[[$Retained$],[$Earnings$]]],[$Balance $\frac{1}{1}\frac{?}{?}$ Year $2,10,000,+,20,000,=,12,000,+,7,000,+,11,000,],[1.,(5,000),+,5,000,=,,+,,+,,],[2.,25,000,+,,=,,+,25,000,+,,],[3.,75,000,+,,=,,+,,+,75,000,],[4.,(42,000),+,,=,,+,,+,(42,000),],[5.,10,000,+,,=,10,000,+,,+,,],[6.,(5,000),+,,=,,+,,+,(5,000),],[7.,,+,,=,,+,,+,,],[$Totals$,68,000,+,25,000,=,22,000,+,32,000,+,39,000,]]$