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Event Assets BETTER CORPORATION Accounting Equation for 2018 Liabilities + Stockholders' Equity Notes Common Retained + + Payable Stock Earnings 12,300 + 7,300 + 16,400
Event Assets BETTER CORPORATION Accounting Equation for 2018 Liabilities + Stockholders' Equity Notes Common Retained + + Payable Stock Earnings 12,300 + 7,300 + 16,400 Accounts Titles for Retained Earnings Cash + Land Balance 1/1/2018 13,000 + 23,000 1. + 6,500 + + 2. (6,500) 28,000 67,000 + + 28,000 + 3. + = + + 67,000 (41,700) Revenue Operating expenses 4. (41,700) + + + 5 + 13,000 + + 13,000 (6,500) 6. + + (6,500) Dividend 7. + + + Totals 66,300 + 29,500 25,300 + 35,300 + 35,200 Better Corp. completed the following transactions during 2018: 1. Purchased land for $6,500 cash. 2. Acquired $28,000 cash from the issue of common stock. 3. Received $67,000 cash for providing services to customers. 4. Paid cash operating expenses of $41,700. 5. Borrowed $13,000 cash from the bank. 6. Paid a $6,500 cash dividend to the stockholders. 7. Determined that the market value of the land purchased in event 1 is $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, 2018, 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, 2019? Answer is not complete. Complete this question by entering your answers in the tabs below. Req A Req B and C As of December 31, 2018, 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 of January 1, 2019? Assets Liabilities Stockholders' Equity b. + C.
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