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I will need help with these accounting questions, thank you! Olive Enterprises experienced the following events during Year 3: 1. Acquired cash from the issue

I will need help with these accounting questions, thank you!

image text in transcribedimage text in transcribedimage text in transcribed Olive Enterprises experienced the following events during Year 3: 1. Acquired cash from the issue of common stock. 2. Paid cash to reduce the principal on a bank note. 3. Sold land for cash at an amount equal to its cost. 4. Provided services to clients for cash. 5. Paid utilities expenses with cash. 6. Paid a cash dividend to the stockholders. Required Indicate how each of the above events would affect the accounting equation by selecting "Increase" or "Decrease" under each of the elements of the accounting equation. Leave blank for no effect. If an event increases one account and decreases another account equally within the same component, select "Both". The first event is shown as an example. Note: Not all cells will require input. Exercise 1-14A (Static) Missing information for determining net income LO 1-7 The December 31, Year 4, balance sheet for Deen Company showed total stockholders' equity of $156,000. Total stockholders' equity increased by $65,000 between December 31, Year 4, and December 31, Year 5. During Year 5, Deen Company acquired $20,000 cash from the issue of common stock. The company paid a $5,000 cash dividend to the stockholders during Year 5 . Required Determine the amount of net income or loss Deen reported on its Year 5 income statement. (Hint. Remember that stock issues, net income, and dividends all change total stockholders' equity.) Exercise 1-16A (Static) Historical cost versus market value LO 1-7 Lakeside, Incorporated purchased land in January, Year 3, at a cost of $250,000. The estimated market value of the land is $425,000 as of December 31, Year 8. Required a. Name the December 31, Year 8, financial statement(s) on which the land will be shown. b. At what dollar amount will the land be shown in the financial statement(s)? c. Name the key concept that will be used in determining the dollar amount that will be reported for land that is shown in the financial statement(s). Complete this question by entering your answers in the tabs below. At what dollar amount will the land be shown in the financial statement(s)? Olive Enterprises experienced the following events during Year 3: 1. Acquired cash from the issue of common stock. 2. Paid cash to reduce the principal on a bank note. 3. Sold land for cash at an amount equal to its cost. 4. Provided services to clients for cash. 5. Paid utilities expenses with cash. 6. Paid a cash dividend to the stockholders. Required Indicate how each of the above events would affect the accounting equation by selecting "Increase" or "Decrease" under each of the elements of the accounting equation. Leave blank for no effect. If an event increases one account and decreases another account equally within the same component, select "Both". The first event is shown as an example. Note: Not all cells will require input. Exercise 1-14A (Static) Missing information for determining net income LO 1-7 The December 31, Year 4, balance sheet for Deen Company showed total stockholders' equity of $156,000. Total stockholders' equity increased by $65,000 between December 31, Year 4, and December 31, Year 5. During Year 5, Deen Company acquired $20,000 cash from the issue of common stock. The company paid a $5,000 cash dividend to the stockholders during Year 5 . Required Determine the amount of net income or loss Deen reported on its Year 5 income statement. (Hint. Remember that stock issues, net income, and dividends all change total stockholders' equity.) Exercise 1-16A (Static) Historical cost versus market value LO 1-7 Lakeside, Incorporated purchased land in January, Year 3, at a cost of $250,000. The estimated market value of the land is $425,000 as of December 31, Year 8. Required a. Name the December 31, Year 8, financial statement(s) on which the land will be shown. b. At what dollar amount will the land be shown in the financial statement(s)? c. Name the key concept that will be used in determining the dollar amount that will be reported for land that is shown in the financial statement(s). Complete this question by entering your answers in the tabs below. At what dollar amount will the land be shown in the financial statement(s)

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