Exercise 1-19A Preparing financial statements LO 1-7, 1-8. Dakota Company experienced the following events during 2018 1. Acquired $10,000 cash from the issue of common stock. 2. Paid $10,000 cash to purchase land. 3. Borrowed $10,000 cash. 4. Provided services for $25,000 cash, 5. Paid $1500 cash for utilities expense. 6. Paid $15.000 cash for other operating expenses 7. Paid a $3,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $12,500 Required a. The January 1, 2018, general ledger account balances are shown in the following accounting equation Record the eight events 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. The first event is shown as an example, b-1. Prepare an income statement for the 2018 accounting period b-2. Prepare a statement of changes in equity for the 2018 accounting period. b-3. Prepare a year-end balance sheet for the 2018 accounting period. b-4. Prepare a statement of cash flows for the 2018 accounting period. c. Determine the percentage of assets that were provided by retained earnings. Can you determine the cash in retained earnings? Complete this question by entering your answers in the tabs below. Reg A Req B1 Red B2 Reg B3 Reg ReqC Prepare a statement of changes in equity for the 2018 accounting perio DAKOTA COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31, 2018 Beginning common stock Ending common stock Beginning retained earnings Ending retained earnings Total stockholders' equity ReqB1 Req B3 > Exercise 1-19A Preparing financial statements LO 1-7, 1-8. Dakota Company experienced the following events during 2018 1. Acquired $10,000 cash from the issue of common stock. 2. Paid $10,000 cash to purchase land. 3. Borrowed $10,000 cash. 4. Provided services for $25,000 cash, 5. Paid $1500 cash for utilities expense. 6. Paid $15.000 cash for other operating expenses 7. Paid a $3,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $12,500 Required a. The January 1, 2018, general ledger account balances are shown in the following accounting equation Record the eight events 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. The first event is shown as an example, b-1. Prepare an income statement for the 2018 accounting period b-2. Prepare a statement of changes in equity for the 2018 accounting period. b-3. Prepare a year-end balance sheet for the 2018 accounting period. b-4. Prepare a statement of cash flows for the 2018 accounting period. c. Determine the percentage of assets that were provided by retained earnings. Can you determine the cash in retained earnings? Complete this question by entering your answers in the tabs below. Reg A Req B1 Red B2 Reg B3 Reg ReqC Prepare a statement of changes in equity for the 2018 accounting perio DAKOTA COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31, 2018 Beginning common stock Ending common stock Beginning retained earnings Ending retained earnings Total stockholders' equity ReqB1 Req B3 >
