Financial Statement

Please when answering these questions, fill in the accounts that appear on the statement.

Required information Problem 2-20A (Algo) Showing how events affect the horizontal financial statements model LO 2-1 [The following information applies to the questions displayed below.) Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. Acquired $34,000 cash from the issue of common stock. 2. Borrowed $46,000 cash from National Bank. 3. Earned cash revenues of $62,000 for performing services. 4. Paid cash expenses of $52,000. 5. Paid a $2,400 cash dividend to the stockholders. 6. Acquired an additional $34,000 cash from the issue of common stock. 7. Paid $12,000 cash to reduce the principal balance of the bank note. 8. Paid $47,000 cash to purchase land. 9. Determined that the market value of the land is $66,000. Event No. Assets MABEN COMPANY Horizontal Financial Statements Model for Year 1 Balance Sheet Income Statement Liabilities + Stockholders' Equity Net Notes Common Retained Revenue Expense Income Payable Stock Earnings 34.000 + Statement of Cash Flows Cash + Land II + 34,000 + 34,000 FA 1. 2. 3. 4. 5. 6. 7. 8. 9. Total +++++++++ +++++++ +++++ + + + ++ + + 34,000 + 34,000 + 0 0 0 34,000